According to a recent regulatory filing, Tesla CEO Elon Musk has donated 268,000 Tesla shares to undisclosed charitable organizations just before the conclusion of 2024.
The donated shares were valued at approximately $108.2 million, based on Tesla’s closing stock price at the time of the donation.
This charitable contribution aligns with Musk’s established pattern of substantial year-end giving.
For context, he donated Tesla shares worth $1.95 billion in 2022 and contributed approximately $5.74 billion to the Musk Foundation in 2021.
Regulatory Filing Information
The Securities and Exchange Commission (SEC) filing indicates that the donation was part of Musk’s “year-end tax planning” strategy.
Notably, the filing specified that the recipient charities, though unnamed, currently have no intentions to sell the donated Tesla stock.
Background on the Musk Foundation
The Musk Foundation, established in 2001 by Elon and Kimbal Musk, focuses on several key philanthropic areas:
- Renewable energy research and advocacy
- Human space exploration research and advocacy
- Pediatric research
- Science and engineering education
- Development of safe artificial intelligence to benefit humanity
Impact on Tesla Ownership
Following this charitable contribution, Musk maintains approximately 12.8% ownership of Tesla.
According to Forbes, his net worth stands at $408.3 billion, maintaining his position as the world’s wealthiest individual.
Market Response and Tesla Performance
The announcement of Musk’s donation coincided with significant market developments for Tesla.
On January 2, 2025, Tesla’s stock experienced a notable decline of 6.1%, closing at $379.28.
This decrease occurred within a broader market downturn, characterized by sliding stocks and the dollar reaching its highest level in two years.
Tesla’s Sales Performance
The company faced challenges in 2024, recording its first annual sales decline in a decade:
- Annual sales decreased by 1.1%
- Total vehicle deliveries reached 1.79 million units
- Performance fell short of Wall Street’s expectations
- Decline attributed to:
- Increasing competition from Chinese manufacturers, particularly BYD
- Global demand slowdown
As of the filing date, Elon Musk has not issued any public statements regarding this charitable donation.
