Musk sold $16 billion in shares last year and, according to a filing with the Securities and Exchange Commission Monday, gifted 5 million shares, worth nearly $6 billion, to an undisclosed charity or recipient in November. The sales and gifts bring his total to about $22 billion — a combination of tax payments, cash in his pocket and the gift.
The way the options exercises work is that Musk first started converting the 22.8 million options into shares. The options had a strike price of only $6.24, so he could pay $6.24 for each option and get a share of Tesla stock, which were trading at more than $1,000 last fall., since the options are taxed as income.
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Elon Musk donated $5.7 billion in Tesla shares to charity in NovemberMusk made the donations just as he was in the process of selling shares to cover taxes on the exercise of options set to expire in August this year. Lmao. 🥲 He give it to the UN? That's not charity that's wasting money.
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