Elon Musk donated $5.7 billion worth of Tesla shares

Elon Musk, the founder of structures such as Tesla, SpaceX, Neuralink, Musk Foundation, donated Tesla shares worth 5.7 billion dollars. The donations came as Elon Musk made a series of stock sales in the last two months of 2021.

Associated with tax

According to Sözcü from the Wall Street Journal; some experts have linked Musk's donation with taxes. Because; Forgotten capital gains are not taxed. According to the evaluations of the Internal Revenue Service, Musk's donations announced on Monday will be worth approximately $ 5.7 billion. Also, Tesla's stock, which traded over $1,060 during Musk's donations, closed at $875.76 on Monday.

Musk's donation shouldn't be too surprising, as the Tesla CEO signed the Donation Pledge in 2012, which encourages wealthy people to donate most of their wealth to charitable causes.

Some of the donations go to renewable energy and artificial intelligence studies

Musk's philanthropic efforts were not generally on the agenda of the press. However, Musk founded the Musk Foundation in 2002. Grants are awarded to groups, including renewable energy research and human space exploration, according to the foundation's website. In 2015, he was among a group of Silicon Valley investors who collectively pledged $1 billion to ensure AI serves societal needs rather than business interests.

In addition, although it is not known exactly how much Musk donates to charities, he occasionally shares on social media.

He didn't neglect Texas either

In March, Musk tweeted that he had donated $20 million to schools in a Texas county and $10 million to a Texas city to revitalize the downtown area. In 2018, he tweeted that he sold more than $100 million of Tesla shares to a charity.

In October, after the executive director of the United Nations World Food Program urged billionaires to help fight global hunger, Musk tweeted that the organization would sell its stake in Tesla if $6 billion defined how it would solve world hunger. A World Food Program spokesperson did not comment on whether Musk donated shares to the organization.