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HomeBusiness & FinanceElon Musk Donated $5.7 Billion to a Mystery Recipient

Elon Musk Donated $5.7 Billion to a Mystery Recipient


A new filing by the U.S. Securities and Exchange Commission that was revealed this week shows that Tesla CEO Elon Musk has not only been keeping good on his promise to sell 10% of his stock in the company, but has also apparently been doing good with it, too.

Bloomberg | Getty Images

Per the new documentation, Musk gifted 5,044,000 shares of Tesla stock between November 19 and 29, though it was not stated to where or to whom the shares were given.

It was also reported that Tesla was trading a little higher than $1,000 per share at the time of the donation, which would place the estimated valuation of the stock at around $5.7 billion.

Other filings show that Musk sold over $16 billion in Tesla stock at the end of last year.

Related: Elon Musk Sinks Tesla Shares With Contentious Twitter Poll

There is speculation on social media that the mystery donation could have possibly been to the United Nations World Food Program after Musk challenged the organization on Twitter last fall.

In response to the executive director of the UN World Food Program, David Beasley, saying in an interview that just 2% of Musk’s wealth could “solve world hunger,” Musk gave Beasley a challenge.

“If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it,” he wrote.

Beasley responded nearly two weeks later with an outlined proposal.

“This hunger crisis is urgent, unprecedented, AND avoidable,” he Tweeted back at the billionaire. “@elonmusk, you asked for a clear plan & open books. Here it is! We’re ready to talk with you – and anyone else – who is serious about saving lives.”

Related: Elon Musk Slams Elizabeth Warren, Calls Her ‘Senator Karen’

The mystery stock donations began just four days after this exchange, where Beasley had asked Musk for $6.6 billion to “avert famine.”

Musk’s decision to begin selling stock came as a result of a Twitter poll where he asked his followers if they supported his decision to sell 10% of his stake in Tesla after he and other billionaires were being criticized for not paying any personal income tax.

Since Musk does not receive a salary from Tesla or an annual bonuses, his income is not taxed.

Neither the Tesla CEO or the WFP have commented on the new filing.

As of Tuesday afternoon, Musk’s net worth was an estimated $247.9 billion. Tesla was up 15.27% year over year at the same time.





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