World’s Biggest Donation: Musk donated Shares worth $ 5 Billion to Charity
The world’s richest man Elon Musk has made the biggest donation in history. According to a Forbes report, Musk has donated more than $ 5 billion of Tesla shares to an unspecified charity in November 2021. According to a Securities and Exchange Commission filing, Musk transferred 50,44,000 Tesla shares over the course of 10 days in November.
Responding to an article about a United Nations program a month ago, Allen tweeted that he would donate $6 billion if someone could explain how his money would end world hunger.
Donations shared to Save Tax
The report states that this is the largest amount given to any charity in history. However, the documents did not reveal the name of the trust to which the donation has been made. In November, Musk tweeted a poll asking his followers whether he should sell 10% of his stock in Tesla in an effort to counter allegations of tax avoidance, to which nearly 58% of the 3.5 million voters said “yes”.
Step taken amidst fighting with politicians
The Bloomberg report states that the donation was taken after an ongoing fight between the Tesla CEO and politicians. These politicians included people like Bernie Sanders and Elizabeth Warren. These people proposed to tax the shares and other assets of billionaires like Elon Musk. Their target was especially the personal property of Elon Musk.
$8 billion in assets increased on Tuesday
Elon Musk’s net worth saw a tremendous rise due to the stock market’s rally on Tuesday. According to the Bloomberg Billionaires Index, Elon Musk’s net worth has seen an increase of more than $8 billion . Whereas, this year, more than $ 35 billion has been reduced from the net worth.
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