Elon Musk Donates 100 Million Dollars: Elon Musk, who has gained fame for high technology products and innovation, remains in the news continuously due to his amazing feats and controversial statements or social media posts. This chief of Tesla company has just made headlines again. Elon Musk is once again in the news, this time people are praising him for his generosity and charity.
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Elon Musk Donates 100 Million Dollar
Elon Musk Donates 100 Million Dollars: By donating 100 million dollars, Elon Musk has achieved the title of Tech Giant and Dhankuber as well as Donor. Elon Musk has transferred shares worth $100 million of his company to his Musk Foundation set up for charity. He has given this information to America’s Security and Stock Market Regulator.
Elon Musk, who has gained fame for high technology products and innovation, remains in the news continuously due to his amazing feats and controversial statements or social media posts. This chief of Tesla company has just made headlines again.
Tesla CEO Elon Musk is once again in the headlines. In fact, according to a regulatory filing on December 30, Musk has donated 2,68,000 Tesla shares worth approximately $112 million (about Rs 960 crore). This is not the first time Musk has made a large-scale donation.
Elon Musk Donates 100 Million Dollar: Securities and Exchange Commission (SEC)
states that the shares were donated to “certain charities” as part of Musk’s “year-end tax planning”, The Times of India reported. There is no intention to sell such stock.” The charities receiving the shares were not named, and they do not plan to sell them any time soon, the filing said. The Musk Foundation, established 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 for the benefit of humanity.
Elon Musk Donates 100 Million Dollars: Richest Person in the World
Despite this donation, Musk, whose net worth is more than $415 billion (Rs 3.55 lakh crore) (according to Bloomberg), is the world’s richest person, according to the report, through a trust he established in 2003. Also owns approximately 411 million Tesla shares.
As of last year, Musk held about 13% of Tesla’s total shares, according to a 2024 company report.
Judge rejects Musk’s salary Musk, who also leads companies like SpaceX and social media platform X, was earlier given 304 million Tesla stock options in 2018. However, this compensation package was rejected twice by a Delaware court and is currently being contested by Tesla shareholders.
You can get an Exemption Under Tax Planning.
This filing with the Securities and Exchange Commission of America is part of the annual tax planning initiative at the end of the year. That means, under the tax rules of America, Elon Musk can get some exemption in tax liability through this.
This is not the first time that Elon Musk has made a large-scale donation. In 2022, he donated Tesla shares worth $1.95 billion in several transactions between August and December. Even in the year 2021, he donated Tesla shares worth $5.7 billion.
Give without expecting return this is what makes U mahaan https://t.co/o1WX5YRISN Tesla CEO Elon Musk donates shares worth $100 million to charities
— 20bizmen (@20bizmen) January 5, 2025
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗