The world’s second-richest man and CEO of Twitter has pledged to give away at least half of his wealth by the time he dies.
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Elon Musk donated $1.95 billion (€1.82 billion) worth of Tesla shares to charity last year, according to a US regulatory filing.
The Securities and Exchange Commission’s filing shows the Tesla, SpaceX and Twitter CEO donated around 11.6 million shares in the electric car company between August and December last year.
The filing did not say which organisations were recipients of the shares. Tesla did not immediately respond to an email seeking details on which charity or charities got the donations.
Analysts have said that Musk might benefit from gifting Tesla stock if he donated it to charity, since shares donated to charities do not have to pay capital gains tax, as they would if they were sold.
Musk signed the Giving Pledge in 2012, a commitment by some billionaires to give at least half their wealth to philanthropy in their lifetime or upon their death.
In 2001, he set up the Musk Foundation, offering grants for the "development of safe artificial intelligence to benefit humanity" among other causes, according to its website.
He donated about $5.74 billion (€5.35 billion) in 2021.
The 2022 donation of Tesla stock came amid his $44 billion (€41 billion) takeover of Twitter last year.
‘Twitter is quite the rollercoaster’
His time as CEO has been turbulent, with the company seeing a large drop-off in advertisem*nt revenue, mass layoffs and changes to the social media platform’s verification system and algorithms.
Musk ran a Twitter poll in December last year on whether he should stand down as CEO, and after a majority of users voted for him to go, he claimed he would stand down once he had found someone “foolish enough” to take over the reins.
Speaking virtually at the World Government Summit in Dubai on Wednesday, Musk told attendees that “Twitter is certainly quite the rollercoaster”.
"I'm guessing probably towards the end of this year would be good timing to find someone else to run the company,” he said, adding that’s when he expects the platform to be “in a stable position”.
"I think I need to stabilise the organisation and just make sure it's in a financially healthy place and that the product roadmap is clearly laid out," he said.
FAQs
The world's second-richest man and CEO of Twitter has pledged to give away at least half of his wealth by the time he dies. Elon Musk donated $1.95 billion (€1.82 billion) worth of Tesla shares to charity last year, according to a US regulatory filing.
How much did Elon Musk give to charity last year? ›
"Elon Musk gave $5.7 billion to charity last year.
What percentage of Elon Musk's wealth is in Tesla stock? ›
The decline in Musk's wealth is due to Tesla's declining share price, which is down by 29 per cent this year so far and is down 50 per cent from its 2021 peak. A majority of Musk's wealth comes from his 21 per cent stake in Tesla.
Who has donated the most money in the world? ›
Jamsetji Tata named world's most charitable, beats Bill Gates. The title of the world's most generous individual goes to an Indian who outshines renowned figures like Mukesh Ambani, Ratan Tata, Azim Premji, and Shiv Nadar.
Does Tesla give money to charity? ›
Tesla CEO Elon Musk. The $5.7 billion of Tesla shares that Elon Musk donated to an unnamed organization at the end of 2021 went to his own charitable arm, instantly making it one of the largest foundations in the US.
What did Elon Musk donate 5.7 billion dollars to? ›
The $5.7 billion of Tesla Inc. shares that Elon Musk donated to an unnamed organization at the end of 2021 went to his own charitable arm, instantly making it one of the largest foundations in the US.
How much money does Elon Musk give to charity every year? ›
In 2021, the Musk Foundation fell $41 million short of the minimum required donation, tax filings show. In 2022, it missed the 5 percent mark by even more: $193 million. That year, Musk's foundation gave away only about 2.25 percent of its $7 billion in assets, far below the 5 percent minimum, tax filings show.
Who is the No 1 richest person in world? ›
Bernard Arnault & Family
Bernard Arnault, the richest person in the world, is the CEO and chairman at Moët Hennessy Louis Vuitton (LVMH), the world's largest luxury goods company encompassing approximately 70 renowned fashion and cosmetics brands.
Who owns the largest percent of Tesla? ›
Key Takeaways
- Tesla is the world's most valuable auto manufacturer, with a market capitalization of $611 billion.
- CEO Elon Musk is by far the largest shareholder, with over 20% of the company's equity.
- Besides Musk, the largest shareholders are asset management companies like BlackRock, Vanguard, and State Street.
Elon Musk owns the most shares of Tesla (TSLA).
The 25 biggest givers are together now worth an estimated $1.35 trillion–up an astonishing 44% more than a year ago, largely thanks to a dramatic rise in U.S. stocks. Warren Buffett tops our list as the biggest giver for the fourth year in a row, with $56.7 billion in lifetime giving.
Who donated 102 billion dollars? ›
According to a ranking compiled by the EdelGive Foundation and Hurun Report, Jamsetji Nusserwanji Tata, the founder of the Tata Group, has emerged as the world's most prominent philanthropist over the last century.
What is the least generous country in the world? ›
China has the lowest Index score over the 10 years at 16% and in fact is the only country that appears in the bottom 10 for all three measures we ask about; helping a stranger, donating money and volunteering time. This section of the report looks at trends within our top 10 highest scoring countries over time.
Does Tesla actually turn a profit? ›
In 2023, it cost Tesla $65.1 billion to manufacture and sell $78.5 billion worth of electric vehicles, which left the company with $13.4 billion in gross profit.
Who has Taylor Swift donated to? ›
Taylor makes it a habit to give to local food banks while on the road touring. In July 2023, Taylor donated to the Silicon Valley Food Bank and helped provide meals to over 500,000 people in the community. She donated to the Tampa Food Bank in 2023, helping to give over 125,000 meals to people in the Tampa area.
How much has Jeff Bezos donated to charity? ›
The latest round of charitable donations brings his total giving to an estimated $3 billion, just under 2% of his net worth. Jeff Bezos, the world's third richest person and the chairman of Amazon, announced his most recent round of donations to groups helping with housing for those in need.
How much does Jeff Bezos give to charity? ›
The latest round of charitable donations brings his total giving to an estimated $3 billion, just under 2% of his net worth. Jeff Bezos, the world's third richest person and the chairman of Amazon, announced his most recent round of donations to groups helping with housing for those in need.
How much does Jeff Bezos donate a year? ›
Since stepping down as Amazon CEO in 2021, Bezos has had more time to focus on this new chapter of his public life. With the Bezos Earth Fund, which responds to the climate crisis with an emphasis on conservation and restoration, he indicated that he would give away roughly $1 billion a year through 2030.
How much has Elon Musk give away? ›
It is not the first time Mr Musk, who has an estimated net worth of $197.5bn, has given Tesla stock to charity. He donated around $5.74bn worth of shares in 2021, according to a regulatory filing.
How much has Mr Beast donated to charity? ›
According to the Beast Philanthropy website, Donaldson has donated more than 5.5 million pounds of food, delivered more than 4.5 million meals and fed nearly 300,000 people. In 2022, Donaldson donated $3 million in aid for Ukrainian refugees.
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