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Elon Musk's Mysterious $5 Billion Donation To Charity
Elon Musk donated just over 5 million shares of Tesla stock to charity from November 19 to November 29, 2021. There 5 separate donations of stock as follows:
11/19/2021: 2,223,000 shares
11/22/2021: 1,560,000 shares
11/23/2021: 500,000 shares
11/24/2021: 500,000 shares
11/29/2021: 250,000 shares
There is a transaction code with a green 1 on the Form 5, which says this is a bona fide gift of the Issuer's Common stock to charity.
At the point in time based on closing prices, the amount is about $5.74 billion given away. Is each of these donations to the same charity? Or are they donated to different charities? Let's take a moment and talk about where these shares of Tesla stock could have been donated to.
Elon's Donations to Charity
Elon mentioned the Texas Institute of Technology and Science as something that he would like to create. He Tweeted on October 28, 2021, that he would like to start a new university and this is the Texas Institute of Technology and Science.
The date of this Tweet is interesting because Elon's donations happened around a month later. Could Elon have donated to his own organization? Other Universities get large donations from people, in fact, you can find this University Endowment list online.
Notice that the top Universities had these endowments in 2020:
Harvard: $53.2 billion
Yale: $42.3 billion
Stanford: $37.80 billion
Princeton: $37.70 billion
M.I.T.: $27.40 billion
Those are substantial amounts of money donated to each of these universities. Far above what Elon Musk donated to charity. Until you go down the list a ways, you get into single digit billions of dollars.
This is possibility #1, Elon donated to his own university he is going to start - or already started.
Option #2 is donating to solve world hunger. There were some Tweets back and forth between Elon Musk and his Twitter interaction, which took place around November 1, 2021? It's possible that Elon Musk heard or saw a plan to solve world hunger. If the plan was something he saw and believed in, he could have donated his stock. Elon Musk keeps his word and Elon said he would donate $5 billion to solve world hunger with a viable plan.
It's possible that other organizations reached out to Elon Musk after seeing this Tweet exchange and offered him solutions of where the money would go to solve world hunger. Perhaps there were several and Elon donated to each of them.
In the end, we won't really know until we get confirmation from Elon Musk. Hopefully the money went to a charity with a good cause in mind. I'm looking forward to hearing an announcement about where the money went.
Where do you think Elon Musk donated his money to charity? Was it for his university, to solve world hunger, or something else?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.
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I think that his statement
I think that his statement covered..“Musk Foundation. Grants are made in support of: Renewable energy research and advocacy; Human space exploration research and advocacy; Pediatric research; Science and engineering education” Elon's brother Kimbal promoted decentralized philanthropy (DAO), and I'm sure that some of Elon's contributions went there. Of course outside of making the world a better place, corporate and personal donations reduce his tax liability, as Musk faces huge tax costs from the value of his stock holdings going up dramatically over recent years.