Tesla CEO Elon Musk donated over 5 million TSLA shares to an undisclosed charity, according to a SEC Form 5 filed on Monday, February 14, 2022.
The filing reveals that Elon Musk donated approximately 5,044,000 TSLA shares worth about $4.42 billion, considering that Tesla stock is priced at $875.76 as of this writing. Based on the SEC filing, Elon Musk started donating the stocks on November 19, 2021, a time when over 5 million TSLA shares were worth roughly $5.74 billion.
The transaction code for the stock was filed under “G,” which stands for “Gift of securities by or to the insider” or “Bonafide gift.” Under “Explanation of Responses,” the filing reads: “Represent a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.” The charity Elon Musk donated to was not revealed.
However, in November 2021, the Tesla CEO stated he would sell TSLA shares if the United Nation’s World Food Program (WFP) could describe how $6 billion would solve world hunger. At the time, CNN released an article stating that 2% of Elon Musk’s wealth could solve world hunger, according to the director of the United Nation’s food scarcity organization.
On November 16, 2021, WFP Chief David Beasley replied to Elon Musk’s request. Beasley provided a comprehensive explanation and WFP’s plan to solve the hunger crisis. He also provided information on how WFP demonstrated accountability and transparency. Musk started the donation process a few days after Beasley responded, although no direct or concrete link between the two has been established.
Teslarati contacted the WFP and has not received a reply as of this writing.
Below is the SEC filings for Elon Musk’s donation.