Elon Musk donates over $5 billion in Tesla stock to charity: Is UN World Food Program (WFP) the recipient?
Fresh off selling over $23 billion in Tesla shares, Tesla CEO Elon Musk has donated more than $5 billion of Tesla stock to charity, according to a document filed late Monday with the Securities and Exchange Commission (SEC).
Musk has donated 5,044,000 shares of Tesla to an unnamed charity. According to the SEC filing, the donations were made in November when the stock was well above $1,100. Now, many are wondering if Musk had made the donation to The UN World Food Program (WFP).
In October, Dr. Eli David challenged Musk to spend 2% (about $6 billion back then) of his wealth to address world hunger. In a tweet, Dr. David said, “2% of @elonmusk’s wealth is $6B. In 2020 the UN World Food Program (WFP) raised $8.4B. How come it didn’t “solve world hunger?”
In response, Musk said: “If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.” The time of the stock sales coincided with the time had promised to give WFP the $6 billion if the organization could explain how the fund would be used.
If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.
— Elon Musk (@elonmusk) October 31, 2021
The first charity donation dates from November 19, 2021, and involves more than 2.23 million Tesla shares. That day Tesla’s share price closed at $1,137.06. The second donation was made on Nov. 22 (1.56 million shares), the third on November 23 (500,000 shares), the fourth on November 24 (500,000 shares), and the last on Nov. 29 (250,000 shares). On that day, Tesla stock was valued at $1,136.99 at the close of Wall Street.
In all, Musk donated a total of donated 5,044,000 shares valued at over $5.1 billion. Musk did not specify to whom or to which associations or institutions received the shares. The filing reads:
“Represents a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.”
You can read the filing below.Tesla SEC filing