Tesla CTO Gifts 22,000 TSLA Shares To Charity

MAY 19 2017 BY ERIC LOVEDAY 7

Charity Donation Form – Click To Enlarge

Tesla co-founder and current chief technical officer J.B Straubel is a charitable guy.

J.B. Straubel

A recent Form 4 filing shows that he’s donating 22,000 TSLA shares directly to charity.

With a single signature, Straubel sent those shares to an unknown charity. That’s nearly $7 million worth of shares that some lucky charitable organization(s) now have in possession.

Straubel is certainly a man of much wealth, so donations are expected, but this is an extraordinary gift to whomever it’s being sent. And we should point out that this will have little impact on his taxes. It’s a charitable move first a slight tax deduction second.

J.B. Straubel still owns 326,301 TSLA shares, so it’s not like he’s no longer invested in the company or something now.

Sources: Reddit, Tesla

Categories: Tesla

Tags: , ,

Leave a Reply

7 Comments on "Tesla CTO Gifts 22,000 TSLA Shares To Charity"

newest oldest most voted
Tyler Hilliard

It will have more of an impact on his taxes than just the donation – when you donate shares you don’t have to pay taxes on the capital gains.

Jeff Hartwig

The taxes would be minimal than the total worth of the stock. You sound like an unappreciative liberal

Priusmaniac

That is like giving away 70 Tesla Model S or 200 Tesla Model 3. It is a bit surreal to be able to do that. Just short of levitation or eternal life.

William

If he doesn’t give these shares to charity, Uncle Sam will figure out some alternative donation plan that will be of some help.

SparkEV

Uncle Dump will skim a little (or a lot) off the “donation” before passing it along. Then each entity that does “middleman” work will skim a bit, and whatever that reach the end will be peanuts. This is why using the government as “charity” doesn’t work well.

But if you were to give to private charity, you can research as to how well they are run. If it’s poorly run, you pick another. In an ideal world where everyone choose the charity without ulterior motives, charities have an incentive to do better, and poorly run charities will be out of “business”.

But in the real world, many choose charities not out of “charity”, but for other reasons. This is why Clinton foundation was awash with money from foreign countries when Shilery was in public office, but those countries cut the donations when Shilery lost.

Daniel Bigham

Well done JB.

Jouni Valkonen

Hopefully this “charity” is something useful such as helping scientists with funding their research.