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Elon Musk Donated Over 210,000 Tesla Shares Worth Almost $100 Million: 'Part Of Year End Tax Planning,' Says Sawyer Merritt - Tesla (NASDAQ: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]
Tesla launches in Saudi Arabia amid Chinese competition and tumbling sales
CNBC· 2025-04-10 13:05
Core Insights - Tesla, Inc. is launching sales in Saudi Arabia, aiming to tap into the growing demand for electric vehicles (EVs) in the region despite the lack of charging infrastructure [1] - The launch event is scheduled for April 10 in Riyadh, with pop-up stores opening on April 11, coinciding with a potential visit from U.S. President Donald Trump [2] - The company is facing declining sales in Europe, partly due to backlash against CEO Elon Musk's involvement in the Trump administration [3] Industry Context - Saudi Arabia, while known for its oil wealth, is becoming more receptive to EVs, as evidenced by the Public Investment Fund's investment in Lucid Motors since 2019 [4] - Lucid Motors has established its first manufacturing facility in Saudi Arabia in 2023, indicating a growing interest in the EV market within the kingdom [4]