Source: China Fund News
Musk, who had high hopes from UN officials, really donated!
Tesla CEO Elon Musk donated 5,044,000 shares of Tesla to a charity from November 19 to November 29 last year, and the charity made the move public on Feb. 14 by filing a beneficial ownership change document with the SEC.
Experts believe that Musk's gift of Tesla stock instead of donating money directly is mainly due to tax factors. That's because stock donated to a charity is not subject to capital gains tax, which is subject to taxation if the stock is sold for profit.
Musk's first donation, dated Nov. 19, involved more than 2.23 million shares of Tesla stock, the documents show. Tesla's shares closed at $1,137.06 that day.
The second donation was made on November 22 (1.56 million shares), the third on November 23 (500,000 shares), the fourth on November 24 (500,000 shares), and the last on November 29 (250,000 shares). On the day, Tesla closed at $1,136.99.
Based on the closing price of his donation on the day, the total value of the donation is $5.74 billion (about 36 billion yuan).
The document did not reveal the charity's name, but the note to the document said it "represents a bona fide gift from a donor to a charitable organization."
Or in response to the "forced donation door"?
This donation is reminiscent of the "forced donation door" that Musk encountered last year.
United Nations officials named and named the world's richest people, including Musk, to donate, according to its caliber of only 6 billion US dollars can help solve the global famine and other issues, after media reports, this statement evolved into "as long as Musk donates 2% of his wealth to solve the world famine", a moment of commotion.
On November 1 last year, Un World Food Programme official Beasley tweeted on social media @Musk that $6 billion could be used to solve the world's famine problems, such as reducing geopolitical instability, mass migration and rescuing nearly 42 million refugees suffering from famine. Beasley even offered to visit in person, while Musk asked him to come up with a detailed plan.
Musk responded to Beasley's request for donations, later tweeting: "If [the UN World Food Programme] could describe ... Exactly how $6 billion will solve the problem of world hunger, I will immediately sell Tesla stock and do it. ”
Beasley said on Twitter that he was willing to meet with Musk to provide more details, but it was unclear whether the two explored the idea further.
However, Musk's donation time is too coincidental, just less than a month after the "forced donation gate" began to donate, and the amount of stock donation is quite close to the $6 billion mentioned by U.N. officials.
In addition, according to its website, in 2001, Musk established the Musk Foundation to provide funding for causes such as "developing safe artificial intelligence for the benefit of mankind." Musk's foundation has more than $200 million in assets.
The donation point is stuck at a high level
The stock donation occurred in November 2021, when Tesla's stock price was well above $1100, and Tesla's current stock price is $875, with a retracement of about 20% at a higher point.