Ending Soon! Save 33% on All Access

Elon Musk Donated $5.7 Billion to a Mystery Recipient A new filing with the SEC reveals that the donation was made mid-November of last year.

By Emily Rella Edited by Amanda Breen

Bloomberg | Getty Images

A new filing by the U.S. Securities and Exchange Commission that was revealed this week shows that Tesla CEO Elon Musk has not only been keeping good on his promise to sell 10% of his stock in the company, but has also apparently been doing good with it, too.

Per the new documentation, Musk gifted 5,044,000 shares of Tesla stock between November 19 and 29, though it was not stated to where or to whom the shares were given.

It was also reported that Tesla was trading a little higher than $1,000 per share at the time of the donation, which would place the estimated valuation of the stock at around $5.7 billion.

Other filings show that Musk sold over $16 billion in Tesla stock at the end of last year.

Related: Elon Musk Sinks Tesla Shares With Contentious Twitter Poll

There is speculation on social media that the mystery donation could have possibly been to the United Nations World Food Program after Musk challenged the organization on Twitter last fall.

In response to the executive director of the UN World Food Program, David Beasley, saying in an interview that just 2% of Musk's wealth could "solve world hunger," Musk gave Beasley a challenge.

"If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it," he wrote.

Beasley responded nearly two weeks later with an outlined proposal.

"This hunger crisis is urgent, unprecedented, AND avoidable," he Tweeted back at the billionaire. "@elonmusk, you asked for a clear plan & open books. Here it is! We're ready to talk with you - and anyone else - who is serious about saving lives."

Related: Elon Musk Slams Elizabeth Warren, Calls Her 'Senator Karen'

The mystery stock donations began just four days after this exchange, where Beasley had asked Musk for $6.6 billion to "avert famine."

Musk's decision to begin selling stock came as a result of a Twitter poll where he asked his followers if they supported his decision to sell 10% of his stake in Tesla after he and other billionaires were being criticized for not paying any personal income tax.

Since Musk does not receive a salary from Tesla or an annual bonuses, his income is not taxed.

Neither the Tesla CEO or the WFP have commented on the new filing.

As of Tuesday afternoon, Musk's net worth was an estimated $247.9 billion. Tesla was up 15.27% year over year at the same time.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

More People Are Exploring Entrepreneurship Because of This Unexpected Reason

More new business applications were filed in 2023 than in any other year so far.

Business News

TikTok Reportedly Laid Off a 'Large Percentage' of Employees as the App's Fate in the U.S. Remains Unclear

Laid-off TikTok employees were notified Wednesday night through Thursday morning.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Four Seasons Orlando Responds to Viral TikTok: 'There's Something Here For All Ages'

The video has amassed over 45.4 million views on TikTok.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.