Musk donated $108 million in Tesla shares to unnamed charities, filing shows
Jan 2 (Reuters) – Tesla (TSLA.O), opens new tab chief executive Elon Musk donated 268,000 Tesla shares to unnamed charities just before the new year, according to a regulatory filing on Tuesday.
Musk, who owns about 12.8% of Tesla, made the donation as part of his “year-end tax planning” to “certain charities” that have “no current intention to sell such stock,” the filing showed.
The donation follows a similar pattern from 2022, when Musk donated Tesla shares worth $1.95 billion. In 2021, he donated about $5.74 billion to the Musk Foundation, his non-profit organization.
The latest donation was worth about $108.2 million, according to the stock’s last closing price.
The Musk Foundation, of which Musk is president, offers grants for various causes, including the “development of safe artificial intelligence to benefit humanity,” according to its website.
Musk, currently the world’s richest person with a net worth of $408.3 billion, according to Forbes, did not immediately respond to a Reuters request for comment.
Tesla CEO Elon Musk gives away 268,000 shares worth over $100M to charities
The donation was worth $108 million, and was made as part of his “year-end tax planning” to unnamed charities.
Elon Musk
Elon Musk, CEO of Tesla Inc., donated 268,000 Tesla shares to unnamed charities just before the new year, according to a regulatory filing on January 2, 2025. The shares were valued at approximately $108.2 million, based on Tesla’s closing price at the time.
This donation aligns with Musk’s pattern of significant year-end contributions. In 2022, he donated Tesla shares worth $1.95 billion, and in 2021, he contributed about $5.74 billion to the Musk Foundation, his non-profit organization.
The Musk Foundation, founded in 2001 by Elon and Kimbal Musk, focuses on several philanthropic areas:
Renewable energy research and advocacy
Human space exploration research and advocacy
Pediatric research
Science and engineering education
Development of safe artificial intelligence to benefit humanity
As of the donation, Musk owned approximately 12.8% of Tesla. His net worth was estimated at $408.3 billion, making him the world’s richest person, according to Forbes.
The specific recipients of Musk’s latest donation were not disclosed in the filing. However, the filing did note that these charities currently have no intention to sell the donated stock.
Following the disclosure of Musk’s donation and Tesla’s report of its first annual sales decline in a decade, Tesla’s stock experienced a notable decline. On January 2, 2025, the automaker’s shares fell by 6.1%, closing at $379.28. This drop was part of a broader market trend, with stocks stumbling and the dollar hitting a two-year high.
Tesla’s annual sales fell by 1.1% in 2024, delivering 1.79 million vehicles, which was below Wall Street expectations. This decline is attributed to increasing competition from Chinese rivals like BYD and a slowing global demand.
Musk has not publicly commented on this recent donation.
