Elon Musk donates US$5,7bn Tesla shares

Elon Musk

Elon Musk reported that he gifted almost US$6 billion worth of Tesla Inc. shares to charity in November.

The world’s richest man donated more than 5 million shares in the electric automaker from November 19 to November 29, according to a filing with the Securities and Exchange Commission.

The gift was worth about US$5,7 billion, based on average prices the days he sold the stock, making it one of the biggest to a charity in history. An unidentified trust was involved in the transaction, and the name of the charity wasn’t cited in the document.

The donation occurred as Musk, Tesla’s chief executive officer, battled with politicians including Bernie Sanders and Elizabeth Warren over inequality and a potential wealth levy. —Bloomberg

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