Friday, March 29, 2024

Nearly six billion dollars: Musk has donated Tesla shares

hida
hida
Hida Winkle is a tech blogger from Ohio with a degree in mass communication and a gift for writing. She is the editor-in-chief of mag.ciptaanugerah.com. Hida’s favorite subjects are technology and building art. She is also a huge fan of Anime and Manga.


Tesla CEO Elon Musk donated last fall in addition to his broad-based stock sales and securities of the electric car manufacturer worth billions. The five million shares were worth almost six billion dollars at the time of the donation in November. Monday’s notice to the U.S. Federal Reserve (SEC) contained no indication of who received the papers. The donation could also help to squeeze Musk’s billion-dollar tax burden after the stock swaps.

Musk had to settle stock options about a decade earlier before they expired. This in turn led to a tax bill – and in order to settle this, the Tesla boss had to sell shares. Musk went further and had Twitter users commit in a vote to kill a tenth of his Tesla share. In December, he snared that he would pay around eleven billion dollars in taxes for the past year.

The rise in Tesla shares in recent years has made Musk by far the richest person in the world. The financial service Bloomberg currently rates Musk’s Vermgen in its billion-dollar ranking at 227 billion dollars (200 billion euros). He is thus far ahead of Amazon grnder Jeff Bezos with 180 billion dollars. (dpa/swi)

Also read:

Tesla’s growth strategy: 20 million cars in 2030

Admission to the elite of US engineers: Elon Musk is pleased about high honor

Against all the rules: How Musk became so successful with Tesla

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The Four Levels of Tesla’s Aftersales

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