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• Musk donated more than 5 million Tesla shares from November 19 to November 29 last year
• November donations made by Musk would make him the second-biggest donor of 2021
Billionaire Elon Musk donated almost $5.7 billion worth of Tesla Inc (TSLA) shares to charity last year, according to a filing with the US Securities and Exchange Commission on Monday.
The world’s richest man donated more than 5 million Tesla shares from November 19 to November 29 last year. The filing does not name the recipients.
Musk’s donations are valued at roughly $5.7 billion, according to the calculations of the Internal Revenue Service. The IRS values stocks gifts based on the average of a stock’s high and low on the day.
Shares of Tesla were trading above $1,060 at the time Musk made the donations. On Monday, the shares closed at $875.76 and were up more than 4% on Tuesday.
Musk-UN tussle
Musk had gotten into a debate last year with a humanitarian organization over how donations by billionaires can help people.
In November, Musk said he would donate $6 billion right away if the UN can explain how the donation would solve the world hunger crisis.
David Beasley (The Director of the UN’s World Food Program) had said that if billionaires such as Elon Musk and Jeff Bezos donated $6 billion of their wealth, 42 million people could benefit.
Musk had said on Twitter that if WFP can describe “exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.”
Musk’s donations
In December, Musk had estimated that he would pay more than $11 billion in 2021 taxes.
Donations made by Musk in November would make him the second-biggest donor of 2021, according to a list of the top charitable givers in the Chronicle of Philanthropy.
Bill and Melinda French Gates have donated more than Musk—about $15 billion.
According to the foundation's website, the Tesla chief established the Musk Foundation in 2002 and supports causes including research on renewable energy and human space exploration.
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