Elon Musk, the man with a golden heart – In spite of losing a record $200 billion in a single year, the SpaceX CEO donated $1.9 billion of Tesla shares to various charities last year

A US regulatory filing has painted Elon Musk as an altruistic billionaire. Per the Securities and Exchange Commission’s filing, the Tesla and Twitter CEO donated a whopping 11.6 million shares in 2022. In simple terms, the second richest man in the world gave $1.9 billion worth of Tesla shares to charity. The tycoon, worth $194 billion, owns approximately 13% of Tesla and contributed the massive sum to an unnamed charity in the second half of 2022. In comparison, Musk donated five million Tesla shares to charity, a gift worth $5.7 billion in 2021.

Elon Musk with the Tesla California factory team.Via Twitter / @elonmusk

Tumbling Tesla stocks and tremendous personal losses certainly impacted the businessman and his benevolence. In 2021, Musk’s fortune once sat as high as $320. At the end of 2022, Musk dropped from the world’s richest position with a net worth of $137 billion. A donation of $1.9 billion was indeed a very generous gift that represented about 1.4% of his net worth at that time. Let’s not forget that the SpaceX boss had a terrible 2022, losing a staggering $100.5 billion.

Also read -  Meet the billionaire who is suing the Australian government on accusations of buying Hitler's car from a Russian owner

2022 was nothing short of a roller coaster ride for Tesla stock price. Image – Twitter / Elon Musk

He did win the Guinness World Record for becoming the first person in history to have lost $200 billion of his net worth. Musk did not divulge the name of the charity in 2022. Going by his reply to an article of the United Nations’ World Food Programme in 2021, where he promised to donate $6 billion of Tesla stock to solve world hunger, we can reckon. David Beasley, the UN food program director, said a donation of that size could feed more than 40 million people across 43 countries that are “on the brink of famine.” Musk sold at least $22 billion worth of Tesla shares in 2022. In addition to the donations mentioned above, the maverick sold $22.9 billion worth of Tesla shares as he raised cash for his purchase of Twitter.

Tags from the story
, ,
Written By
With over 15 years of experience in luxury journalism, Neha Tandon Sharma is a notable senior writer at Luxurylaunches. Her expertise spans luxury yachts, high-end fashion, and celebrity culture. Beyond writing, her passion for fantasy series is evident. Beginning with articles on women-centric gadgets, she's now a leading voice in luxury, with a fondness for opulent superyachts. To date, her portfolio boasts more than 2 million words, often penned alongside a cappuccino.