Tesla founder and chief executive Elon Musk has donated more than 5 million shares in the world’s most valuable car maker to a charity.
The gift came weeks after he pledged to sell some of his shares in the company to end world hunger if the United Nations could provide evidence it could solve the crisis and how the money will be spent.
The donation of shares made from November 19 to November 29 last year was worth $5.74 billion, based on the average closing prices of Tesla shares on the five days that he donated the stock, the company’s filing with the US Securities and Exchange Commission on Monday said.
An unidentified trust was involved in the transaction and the filing did not disclose the name of the charity.
The donation ranks Mr Musk as America’s second-biggest donor after Bill Gates and Melinda French Gates last year, data from the Chronicle of Philanthropy shows.
The world’s richest man, who has a net worth of $227bn, the Bloomberg Billionaires Index says, sold $16.4bn worth of shares after polling Twitter users about offloading 10 per cent of his stake in Tesla, the electric car maker, in early November.
The billionaire businessman revealed that he intended to sell a large portion of his stock in the fourth quarter at the 2021 Code Conference in September.
In the same month, he established a pre-arranged trading plan to carry out “an orderly sale of shares related to the exercise of stock options”, filings reveal, but the Twitter poll on November 6 did not disclose the existence of that plan.
On December 20, Mr Musk tweeted that he would pay more than $11bn in taxes in 2021 amid criticism that the world’s wealthiest person was not paying enough.
Analysts interviewed by Reuters and Bloomberg said there would be a tax benefit for Mr Musk potentially donating Tesla stock since shares donated to charity are not subject to capital gains tax, as they would be if sold.
Mr Musk could owe more than $10bn to the US Internal Revenue Service, triggered by his exercise of an unusually large number of options in 2021, Bloomberg calculated in December.
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
Stage 5 results
1 Tadej Pogacar (SLO) UAE Team Emirates 3:48:53
2 Alexey Lutsenko (KAZ) Astana Pro Team -
3 Adam Yates (GBR) Mitchelton-Scott -
4 David Gaudu (FRA) Groupama-FDJ 0:00:04
5 Ilnur Zakarin (RUS) CCC Team 0:00:07
General Classification:
1 Adam Yates (GBR) Mitchelton-Scott 20:35:04
2 Tadej Pogacar (SlO) UAE Team Emirates 0:01:01
3 Alexey Lutsenko (KAZ) Astana Pro Team 0:01:33
4 David Gaudu (FRA) Groupama-FDJ 0:01:48
5 Rafał Majka (POL) Bora-Hansgrohe 0:02:11
Roger Federer's 2018 record
Australian Open Champion
Rotterdam Champion
Indian Wells Runner-up
Miami Second round
Stuttgart Champion
Halle Runner-up
Wimbledon Quarter-finals
Cincinnati Runner-up
US Open Fourth round
Shanghai Semi-finals
Basel Champion
Paris Masters Semi-finals
RESULT
Manchester United 2 Tottenham Hotspur 1
Man United: Sanchez (24' ), Herrera (62')
Spurs: Alli (11')
Movie: Saheb, Biwi aur Gangster 3
Producer: JAR Films
Director: Tigmanshu Dhulia
Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi
Rating: 3 star
