Elon Musk donated 5.04 million shares of his company Tesla to philanthropic works in November 2021, as revealed by a leaked Stock Exchange document last Monday, February 14 at night. The beneficiaries are unknown at this time.
When the donation was made the value of the shares represented 5,700 million dollarsalthough at the closing price of Monday, February 14, these shares have a value of 4,400 million.
Apparently these donations were carried out when Musk, the new richest man in the world, was disposing of part of his shares in order to respond to tax obligations derived from the exercise of stock options.
He would have reduced his shares to lower his taxes
According to calculations by the Wall Street Journal, the businessman transferred an equivalent to more than 16 million dollars in shares of Tesla in the last two months of 2021.
Recall that in December, Musk, who also owns SpaceX, indicated through Twitter that he had to pay 11,000 million of tax dollars for 2021, and donations sometimes reduce tax bills, an option the billionaire would have chosen.
On the other hand, it is important to note that in the United States some politicians such as Elizabeth Warren or Bernie Sanders have called for the creation of a tax on the “rich” which, if approved, would be a serious blow to Musk’s fortune.
It is important to note that in 2012, Musk signed the “Giving Pledge” initiative, which was launched in 2020 by investor Warren Buffett, Microsoft founder Bill Gates, and his then-wife Melinda Gates, which encourages billionaires to donate. at least 50% of your fortune in charitable activities.
What is Elon Musk’s fortune?
Forbes magazine estimates that businessman Elon Musk’s fortune is $238 billion, becoming the richest man in the world. Musk owns multiple companies, including Tesla and SpaceX.
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