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.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Tells Federal Judge That SEC Is Harassing Elon Musk, TeslaElon Musk's lawyers complained to a federal judge that the SEC is harassing their client and hasn't distributed $40 million in fines from a 2018 settlement
Read more »
Financial pitchman Dean Vagnozzi has settled SEC fraud complaint for $5 millionThe filing Thursday of Vagnozzi’s payment agreement was the first disclosure of the money to be paid out by the owners of Par Funding and other salespeople who hawked these investments.
Read more »
Historic Black Children's School Receives $5 Million GrantA foundation has given a $5 million boost to efforts to preserve a colonial-era schoolhouse where enslaved and free Black children were taught in Virginia.
Read more »
Tesla & Elon Musk Got Free Advertising In The Super BowlTesla and Elon Musk kind of got some free advertising in the Super Bowl last night. If you think about it, companies
Read more »
Elon Musk, Tesla accuse SEC of 'weaponizing' 2018 settlement for 'unrelenting' investigationsThe settlement against Elon Musk was reached to resolve securities fraud charges for a tweet in which he claimed he had 'funding secured' to take Tesla private at $420 per share.
Read more »
Elon Musk accuses SEC of harassment, withholding money to Tesla shareholders
Read more »