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Musk, he really donated!
On February 14, an F5 document published on the SEC website showed that between November 19 and November 29, 2021, Musk donated five consecutive Tesla shares to a charity, totaling more than 5.04 million shares. Among them, the number of shares donated for the first time was the largest, reaching 2.23 million shares.
Judging from the timing of the five donations and the closing price of Tesla on the day of the donation, Musk has donated nearly $5.8 billion to the charity. The document did not disclose the name of the recipient charity, only stating that the donation was a "gift in good faith".
Donation in response to a "donation dispute" with the United Nations?
Previously, Musk had fought two rounds of "war of words" with the United Nations.
On October 26 last year, David Beasley, director of the United Nations World Food Programme (WFP), said in an interview with foreign media that a small number of rich people only need to take out a small part of their personal net worth to help solve the problem of world hunger. At that time, Musk and Amazon founder Jeff Bezos were "cue".
David Beasley says that if they could donate $6 billion, solving global hunger would not be complicated. See United Nations: Please Donate $6 Billion to Tackle Global Hunger! Musk: You guys have a solid plan first."
Musk responded on Oct. 31. He tweeted that if WFP could tell exactly how $6 billion would solve world hunger, he would immediately sell Tesla stock and act on it. At the same time, Musk asked WFP to make the accounts public so that the public can see exactly how the money is spent.
After being publicly questioned by Musk, the United Nations also came up with a detailed version of the purpose of the donation last November. David Beasley tweeted directly @Musk: "Your plan is coming, and we're ready to talk to you." For details, see "The United Nations "Back" Musk: The Donation Plan You Want is Coming, Is the Money Ready? 》
From the WFP's planning, the $6.6 billion donation is roughly used as follows:
$3.5 billion was spent on food production and delivery costs, in addition to paying contracted truck drivers and the security needed in conflict zones to distribute food to those who need it most.
$2 billion is spent on providing cash and food stamps (including transaction fees) where the market can operate, a aid that enables those most in need to buy their food choices and support the local economy.
$700 million was used to cover country-specific costs, design, scale up and manage efficient and effective programs that add millions of tons of food and cash transfers and vouchers.
$400 million for global and regional business management, administration and accountability, including coordination of global supply routes and air routes; global logistics coordination, such as freight contracting. Monitor and analyse hunger situations around the world. as well as risk management and independent auditors dedicated to oversight.
Although Musk did not immediately respond to the plan at that time, the disclosed donation documents may confirm his attitude.
Something to say with "paying taxes"
Musk is so "generous", in addition to making good on promises, perhaps related to paying taxes.
According to the Bloomberg Global Billionaires List, Musk was worth more than $300 billion at one point last November. On the tax issue, Musk has always been "sharp in words" and "quick in action".
Starting in 2020, Musk has sold his properties in Los Angeles, San Francisco and other places, and moved to Texas to rent a house.
Last October, he said at a shareholder meeting that he would move Tesla's headquarters from California, where personal income taxes are high, to Austin, Texas, where personal taxes are high.
In November, he angrily exclaimed to U.S. Senator Bernie Sanders, the proposer of a "rich tax," "I always forgot you were alive." He also invited fans on social media to vote on whether to sell 10 percent of Tesla stock to free up funds to pay taxes. Musk's subsequent sell-off for several consecutive days led to a sharp drop in Tesla stock, which was also speculated to help him solve his personal tax problems.
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