What did Elon Musk donate to charity?

Elon Musk donated nearly $100 million worth of Tesla shares to undisclosed charities.

Why did Elon Musk donate Tesla shares?

The donation was made as part of Elon Musk's year-end tax planning strategy.

How does Musk plan to increase his control at Tesla?

Musk's control could increase through a large pay package approved by shareholders, linked to future company milestones.

Home / Business and Economy / Musk Gifts $100M in Tesla Stock to Charity

Musk Gifts $100M in Tesla Stock to Charity

1 Jan

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Summary

Elon Musk donated nearly $100 million in Tesla shares.
The donation was made to undisclosed charities for tax planning.
Musk aims to increase his Tesla control via a new pay package.

Musk Gifts $100M in Tesla Stock to Charity

Elon Musk began the new year with a substantial charitable gesture, gifting around 210,000 Tesla shares valued at nearly $100 million. These shares were donated to various charities on Tuesday, as detailed in an SEC filing released on Wednesday. The filing indicated this was for "year-end tax planning," and the recipients had no immediate plans to sell the stock.

This generous act occurs as Musk seeks to solidify his influence at Tesla, where he has served as CEO since 2008. He has expressed a desire for greater control, particularly for expanding the company's AI and robotics ventures. A recent shareholder-approved pay package could potentially raise his stake significantly over the next decade.