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Elon Musk Donates $5.7 Billion In Tesla Shares To Charity, Named Second Biggest US Donor

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Tesla earnings

The world’s richest man and Chief Executive of Tesla, Elon Musk has donated about $5.7 billion worth of the company’s shares to charity.

Investors King gathered that the announcement of the shares was revealed on Monday in a filing to the US Securities and Exchange Commission (SEC).

According to the SEC, the donation was made in 2021 between November 19 and November 29. However, the names of the recipient or recipients of the shares were not disclosed.

With this donation, Musk has been named the second biggest US donor in 2021, trailing Bill Gates and Melinda French Gates, who donated $15 billion last year.

Elon Musk was ranked the richest person in the world with a net worth of $224 billion as of Feb. 12, 2022 by The World’s Billionaires’ , an annual ranking by documented net worth of the wealthiest billionaires in the world, compiled and published in March annually by the American business magazine, Forbes.

Musk owns a foundation that makes grants in support of renewable energy research and advocacy, human space exploration research and advocacy, pediatric research, science and engineering education, as well as development of safe artificial intelligence to benefit humanity.

He also co-founded and leads Tesla, SpaceX, Neuralink and The Boring Company.

As the co-founder and CEO of Tesla, an American electric vehicle and clean energy company based in Austin, Texas, Elon leads all product design, engineering and global manufacturing of the company’s electric vehicles, battery products and solar energy products.

Since the company’s inception in 2003, Tesla’s mission has been to accelerate the world’s transition to sustainable energy. In 2016, Tesla became the world’s first vertically-integrated sustainable energy company with the acquisition of SolarCity, the leading provider of solar power systems in the United States.

Elon is also CEO of Neuralink, which is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.

He also launched The Boring Company, which combines fast, affordable tunneling technology with an all-electric public transportation system in order to alleviate soul-crushing urban congestion and enable high-speed, long-distance travel.

Previously, Elon co-founded and sold PayPal, the world’s leading Internet payment system, and Zip2, one of the first internet maps and directions services.

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Trump’s Net Worth Surges to Record $6.5 Billion Despite Legal Woes

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Truth Donald Trump

Despite facing significant legal challenges and financial setbacks, former President Donald Trump’s net worth has surged to a record $6.5 billion.

This increase comes on the heels of a successful merger between Trump’s social media company, Trump Media & Technology Group, and Digital World Acquisition Corp. (DWAC).

The merger, which was approved on Friday, catapulted Trump’s net worth by more than $4 billion in just a few days, according to Bloomberg.

Trump owns nearly 80 million shares, approximately 58% of Trump Media, the company behind the Truth Social platform.

With DWAC’s closing price reaching $49.95 per share on Monday, Trump’s stake in the newly merged entity was valued at $4 billion.

This surge in wealth marks Trump’s inclusion in the Bloomberg Billionaires Index for the first time in his life, underscoring a dramatic turn of fortune amid ongoing legal woes.

A New York appeals court recently reduced the amount required for Trump to secure a bond against a civil fraud penalty from $550 million to $175 million, providing temporary relief from immediate financial strain.

Despite Trump’s newfound billionaire status, uncertainties linger about the sustainability of his wealth. Trump is restricted from selling his DWAC shares for six months, and the stock’s volatile history adds to the uncertainty.

Also, Trump Media’s financial performance has been modest, reporting less than $3.5 million in revenue and a $49 million net loss in the first nine months of 2023.

Nonetheless, Trump’s resurgence in wealth amid legal challenges underscores the unpredictable nature of his financial fortunes and his enduring influence in the business world.

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Jeff Bezos Surpasses Elon Musk to Reclaim Title of World’s Richest Man

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Jeff Bezos

Jeff Bezos has once again ascended to the summit of wealth, surpassing Elon Musk to reclaim his title as the world’s richest man.

According to the latest data from the Bloomberg Billionaires Index, Bezos’ net worth stands at $200 billion, edging out Elon Musk’s $198 billion fortune.

Bezos’ resurgence in wealth comes amidst a $23 billion gain in 2024, juxtaposed against Elon Musk’s substantial loss of approximately $31 billion as per the index.

These fluctuations closely mirror the stock market performances of Amazon and Tesla, where both magnates hold significant shares.

Despite recently selling $8.5 billion worth of Amazon shares, Bezos retains his position as the largest shareholder in the e-commerce behemoth, boasting a 9.56 percent stake.

Meanwhile, Musk, with an equity stake of about 20 percent in Tesla, faced setbacks earlier this year when a judge invalidated a pay package valued at up to $55.8 billion.

This shift in the billionaire hierarchy marks a familiar saga of wealth battles among industry titans. Bezos, Musk, and other contenders have engaged in a relentless pursuit of financial supremacy, epitomizing the ever-evolving landscape of global wealth distribution.

As the tides of fortune continue to sway, Bezos’ resurgence signals yet another chapter in the saga of the world’s wealthiest individuals.

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Jeff Bezos Trails Elon Musk in Top 10 Richest People Ranking with $195 Billion

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Jeff Bezos

As of the latest data, the 10 richest people in the world wield extraordinary financial influence, their net worth reflecting the dynamic nature of wealth accumulation and distribution.

Topping the list is Elon Musk, the enigmatic CEO of Tesla and SpaceX, with a total net worth of $200 billion. Despite recent fluctuations, Musk remains a formidable force in technology and innovation, driving advancements in electric vehicles and space exploration.

Following closely behind is Jeff Bezos, the visionary founder of Amazon, whose total net worth stands at $195 billion. Bezos continues to redefine e-commerce and venture into ambitious projects like Blue Origin, aiming to revolutionize space travel.

Bernard Arnault, the French magnate behind LVMH Moët Hennessy Louis Vuitton, occupies the third spot with a net worth of $185 billion. As a titan in the luxury goods industry, Arnault’s empire encompasses iconic brands synonymous with style and opulence.

Mark Zuckerberg, the pioneering mind behind Facebook (now Meta Platforms, Inc.), ranks fourth with a net worth of $165 billion. Despite recent controversies, Zuckerberg remains a central figure in social media and technology, shaping the digital landscape.

Rounding out the top five is Bill Gates, the co-founder of Microsoft, with a net worth of $145 billion. Gates’ philanthropic endeavors through the Bill & Melinda Gates Foundation have made a profound impact on global health and education.

Steve Ballmer, Larry Ellison, Larry Page, Warren Buffett, and Sergey Brin complete the list of the world’s wealthiest individuals, each contributing to diverse industries and sectors with their immense financial resources.

As the global economy continues to evolve, the fortunes of these individuals serve as a testament to the power of innovation, entrepreneurship, and strategic investment in shaping the modern world.

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