Elon Musk donates nearly $2 billion in Tesla (TSLA) shares in 2022

Credit: @elonmusk | Twitter

Elon Musk continued his giving ways in 2022, donating greater than 11.5 million shares in Tesla (TSLA) to charity last yr. The donation follows Musk’s $5.5 billion philanthropic effort in 2021 during which he donated 5,044,000 shares of TSLA to charity.

In a Form 5 filing with the U.S. Securities and Exchange Commission (SEC) published on Tuesday, Musk donated the shares in seven different installments. The primary two donations were in August prior to the three for 1 stock split, with one other happening shortly thereafter in September. The remaining 4 donations took place in late November and into December, when TSLA share prices were at their lowest.

In total Musk donated 11,570,599 shares to an unnamed charity. Based on closing prices on each of the times listed in the shape the donation was value about $1.95 billion, in keeping with an evaluation by Drive Tesla.

The Form 5 doesn’t specify who was on the receiving end of the donation, only to say it was “a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.” Nevertheless it was prone to the Musk Foundation, which also received the 2021 donation.

The Musk Foundation was founded in 2001 shortly before he sold Paypal for $1.4 billion. The muse uses its resources “primarily for renewable energy research and advocacy, human space exploration research and advocacy, pediatric research, science and engineering education, and development of secure artificial intelligence to profit humanity.”

A separate 13G/A filing with the SEC also published on Tuesday shows Musk ended 2022 with 716,022,963 TSLA shares, or 20.6% of common stock class shares.

You may read the total Form 5 and 13G/A filings below.


Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Get the daily news directly in your inbox