Elon Musk Donated Over 210,000 Tesla Shares Worth Almost $100 Million: 'Part Of Year End Tax Planning,' Says Sawyer Merritt - Tesla (NASDAQ:TSLA)
TeslaTesla(US:TSLA) Benzinga·2026-01-01 08:20

Group 1 - Elon Musk donated over 210,699 shares of Tesla, valued at more than $97.5 million based on the stock price of $463.12 on December 30 [2] - The donation was made as part of year-end tax planning and was directed to Musk's charitable trust [2] - Tesla plans to scale up production of the Cybercab next year, with ongoing Robotaxi testing in Austin [6] Group 2 - Musk claimed that the amount of taxes he paid in a year "broke" the IRS system, necessitating software updates for processing [3] - Musk criticized Senator Bernie Sanders, labeling him a "taker" and emphasizing that his wealth is tied to Tesla and SpaceX shares [4] - Sanders has been a vocal critic of billionaires like Musk, advocating for increased taxation on the wealthy and opposing advancements in AI and robotics [5] Group 3 - Tesla's stock experienced a slight decline of 0.03% to $449.58 in after-hours trading on December 31, following a 1.04% drop to $449.72 at market close [6]