Elon Musk quietly donated shares worth $6 billion to unnamed charity last year? Here’s what we know
About a month ago Musk had responded to an article about UN World Food Program saying that he will donate $6 billion via selling Tesla stock
New Delhi: Tesla and SpaceX chief executive Elon Musk has disclosed that he donated nearly $6 billion worth of shares to an unspecified charity last year.
The tech billionaire gave away the 5,044,000 shares of Tesla which were worth $5.4 billion at the time. The hefty amount was transferred over the period of 10 days in November last year, according to a Securities and Exchange Commission filing.
The transfer was called a “bona fide gift” to charity in the filing, though the document did not give clear information about where was this charity directed or who received it.
As per the filing, Musk donated about five million shares in November. The shares sold here are roughly worth $5.7 billion in regards to the average price of Tesla shares. This would make him the second-biggest donor last year, only falling behind Bill Gates and Melinda French Gates and their $15 billion charity, according to the Chronicle of Philanthropy.
While it is unclear where the charity went, though about a month ago Musk had responded to an article about the United Nations’ World Food Programme (WEF) in his tweet saying that he will donate $6 billion via sold Tesla stock to the organization if it can explain how his money would solve world hunger.
Fact check:
? 2% of @elonmusk‘s wealth is $6B
? In 2020 the UN World Food Program (WFP) raised $8.4B. How come it didn’t “solve world hunger”?— Dr. Eli David (@DrEliDavid) October 30, 2021
Musk’s tweet had came reverting back to UN World Food Program David Beasley, who had said in an interview that “2% of Elon Musk’s wealth” will be enough to solve the world hunger problem.