Elon Musk made $112 million mystery gift in final days of 2024

In the US, nonprofits are required to give away or use 5% of their assets each year on average — a mark that Musk’s foundation has repeatedly missed.

Elon Musk gifted 268,000 shares of Tesla Inc. to unnamed charities two days before the New Year.

The gift, worth almost $112 million, was part of the billionaire’s “year-end tax planning,” and went to “certain charities,” according to a filing Tuesday.

Musk and his top lieutenant Jared Birchall didn’t immediately respond to a request for comment.

Musk, 53, who has a net worth of $432 billion, according to the Bloomberg Billionaires Index, has made such large gifts of Tesla shares before. He sent $5.7 billion to unnamed charities in a similar manner at the end of 2021. Those funds went to his own nonprofit, the Musk Foundation, according to the charity’s tax filings released the following year.

Last year, the Musk Foundation had $9.5 billion in assets and gave away a record $237 million in gifts, most of which went to other entities controlled by the world’s richest person. In the US, nonprofits are required to give away or use 5% of their assets each year on average — a mark that Musk’s foundation has repeatedly missed.