Elon Musk donates a record amount to charity

Elon Musk has long been considered one of the most stingy billionaires on the planet. But in November 2021, he donated a huge amount of Tesla shares to an unidentified charity, thus becoming one of the biggest philanthropists in history.

In November, the world's richest man donated more than 5 million Tesla shares worth about $5.7 billion, according to a filing with the Securities and Exchange Commission. An unidentified trust was involved in the deal, and the name of the charity was not mentioned in the document.

The American media write that a large donation to charity could significantly reduce the huge amount of taxes that Musk would have to pay last year. The active use of options on Tesla shares, which expired in 2021, would have forced the head of the company to pay an astronomical tax of $11 billion. A large donation to charity could reduce the amount of taxes by about 2-3 billion, while Musk became one of the largest philanthropists in the world.

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