Elon Musk, CEO of Tesla Inc., made a substantial charitable donation just before the start of the new year, gifting 268,000 shares of Tesla to undisclosed charities. According to a regulatory filing on January 2, 2025, these shares were valued at approximately $108.2 million, based on the closing price of Tesla’s stock at that time.
This donation continues Musk’s tradition of significant year-end philanthropic contributions. In 2022, he donated Tesla shares worth $1.95 billion, and in 2021, he contributed around $5.74 billion to the Musk Foundation, the non-profit he founded in 2001 alongside his brother, Kimbal Musk. The foundation focuses on areas such as renewable energy research, human space exploration advocacy, pediatric research, science and engineering education, and the safe development of artificial intelligence to benefit humanity.
Despite Musk’s significant donation, the specific recipients of the donated shares have not been disclosed, though the filing notes that the charities have no intention of selling the stock at this time. At the time of the donation, Musk owned approximately 12.8% of Tesla, and his net worth stood at an estimated $408.3 billion, making him the wealthiest person in the world according to Forbes.
The announcement of Musk’s donation coincided with a significant dip in Tesla’s stock price. On January 2, 2025, Tesla’s shares dropped by 6.1%, closing at $379.28, a decline that followed the company’s report of its first annual sales decline in a decade. Tesla’s 2024 sales fell by 1.1%, with 1.79 million vehicles delivered—below Wall Street’s expectations. This decline has been attributed to increased competition from Chinese automakers, such as BYD, and a slowdown in global demand for electric vehicles.
Musk has not publicly commented on the latest donation, and it remains unclear how it will impact Tesla or his philanthropic goals moving forward.
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