Elon Musk, the richest person in the world, has given away a huge amount of money for charity. His donation of more than 200,000 Tesla shares, which has a total value of approximately $100 million, was made to the charitable foundation that he has been operating. In Indian currency, this amount would be approximately Rs. 900 crore. The donation was made public through a stock market filing dated December 30.
Details of the Share Donation
Musk has about 10% of the total shares of Tesla Company. In the reported document he tax-partially indicated that he is planning to crystallize his share of the tax donation at the end of the year. Besides he sold or was giving away more than 75% of his total stockholdings, and he does not plan to cut off any of these through.
Musk’s History of Charitable Giving
Musk has been donating shares to charity for several years. In 2024, he donated Tesla shares worth $112 million, which is more than Rs. 1,000 crore. In 2022 his donations reached about $1.95 billion. In 2021, he contributed shares worth $5.74 billion to the Musk Foundation.
Impact and Financial Perspective
Financial experts observe that one of the advantages of donating shares instead of selling them is no capital gains tax gets incurred. This method also provides charities with an everlasting financial power base. The Musk Foundation has many projects funded through these dollars, one of which is getting safe AI done so that it can serve the human society.
Net Worth and Global Ranking
Elon Musk, notwithstanding the gift of shares that accrued to billions of dollars, stands to be the richest person on the planet. His present net worth according to the Bloomberg Billionaires Index is approximately $619 billion. He is followed by another tech giant, Google’s co-founder Larry Page, and the founder of Amazon, Jeff Bezos.
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