Elon Musk has disclosed that he’s donated almost 12 million shares of Tesla to charity.
In a submitting made to the Securities and Exchange Commission, the billionaire revealed the donations, most of which had been clustered towards the tip of the 12 months, which means that tax planning could have performed a task. At Tuesday’s closing value for Tesla
TSLA,
the donations had been value $2.42 billion.
Musk didn’t disclose the recipient.
However, final 12 months’s Tesla inventory donations value $5.7 billion had been discovered by Bloomberg to have completely been despatched to his private basis. That basis made presents value $160 million, together with $55 million to the St. Jude Children’s Research Hospital and $54 million to the X Prize Foundation.
The most up-to-date Musk Foundation nonprofit tax type that’s public is from 2020, which confirmed complete charitable donations of $23 million.
Source web site: www.marketwatch.com