According to a regulatory filling, the Tesla CEO donated about 5 million shares of company stock, worth $5.7B, to charity.
In November, according to a regulatory filling, the Tesla CEO donated to charity about 5 million shares of company stock, worth $5.7 billion. Since the filing with the Securities and Exchange Commission was made public Monday, Tesla hasn’t responded to a request for comment. Nor has Musk mentioned the donation on Twitter, his favorite communications forum.
Whether or not Musk donated his Tesla shares to a DAF, Arnold said, the possibility that he did highlights a questionable tax loophole for many wealthy Americans. This month, a bipartisan group of lawmakers proposed a bill in the House of Representatives that would limit how long donations can remain in a DAF untaxed. Similar bipartisan legislation was introduced last year in the U.S. Senate.
“When you’re giving away that much money, it is by definition a matter of public interest where it’s going to,” Soskis said. Soskis, of the Urban Institute, has suggested that there’s room for Musk to be more transparent about his gifts while still signaling his “contempt” for “elite public opinion,” as the Tesla CEO frequently does.
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