Elon Musk donates $5.5+ billion worth of Tesla (TSLA) shares to charity
Fresh off selling nearly $20 billion in Tesla (TSLA) shares, CEO Elon Musk has divested himself of 5,044,000 shares of his company.
Instead of the proceeds going to help pay the largest tax bill in U.S. history, Musk has donated the shares to an unnamed charity.
According to a Form 5 filing with the U.S. Securities and Exchange Commission (SEC) published this afternoon, the shares were sold in varying amounts in mid to late November 2021.
Based on share prices at the time, the donation is worth more than $5.5 billion.
The Form 5 does not specify who received the shares, only to say it was “a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.”
The donation was made just a few weeks after Musk said he would sell $6 billion in shares if the UN World Ford Program (WFP) could prove the money would solve world hunger.
Tesla nor Musk have not commented on who the donation went to. The WFP has also not confirmed they were the recipient of the donation.
You can see the full Form 5 filing below.
Disclaimer: Darryn is a TSLA shareholder and has no plans to change positions within 72 hours.