Elon Musk Donates 268,000 Shares of Tesla Stock Worth $108 Million to Charity Ahead of New Year

Jan 2, 2025, 03:38 PM

Elon Musk donated approximately $108 million worth of Tesla stock, equivalent to 268,000 shares, to various charities just two days before the New Year. This donation was characterized as a 'bona fide gift' in connection with year-end tax planning. Reports indicate that Musk sold 78,000 shares to facilitate this donation, which may have influenced market activity in the days leading up to the transaction. The specific charities receiving the donations have not been disclosed. This charitable act comes amid scrutiny from the SEC regarding Musk's previous actions related to his $44 billion acquisition of Twitter.