Elon Musk made a significant charitable contribution before the close of 2024, donating 268,000 Tesla shares to various charities, as detailed in a regulatory filing dated December 31. This move was part of Musk’s year-end tax planning, though the specific charities receiving the shares were not disclosed. The filing mentioned that these organizations have no immediate plans to sell the shares they received.
Following this donation, Musk retains ownership of approximately 410.8 million Tesla shares. With Tesla’s stock closing at $379.28 on Thursday, the value of the 268,000 shares donated amounts to roughly $101.6 million.
While the exact recipients of the donation remain unnamed, Musk has previously been known for his philanthropic efforts, which often align with his business ventures. This donation further highlights his continued involvement in charitable giving as part of his broader wealth management strategy.
This action reflects Musk’s ongoing commitment to leveraging his wealth for tax advantages while also supporting causes through his charitable contributions. His donation also underscores his role as one of the wealthiest individuals globally, with significant stock holdings in Tesla, SpaceX, and other ventures. As of now, the charities receiving the Tesla shares do not have immediate plans to liquidate them, which may influence Tesla’s stock dynamics in the coming months.
