Tesla’s share price and Elon donates $5.74 BN

Tesla Inc, formerly known as Tesla Motors (2003–17), is an American manufacturer of electric automobiles, solar panels, and batteries for cars and home power storage. It was founded in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning and was named after Serbian American inventor Nikola Tesla. Elon Musk took over as CEO in 2008 when the former founders stepped down from their roles. Some of the biggest changes have come under Mr. Musks’s guidance including Tesla’s initial public offering in 2010 which raised some $226 million.

Tesla Share Price

Tesla is traded on the NASDAQ Index – NASDAQ is where you will find all blue-chip companies that have floated on the financial market in the USA. On the NASDAQ you can trade companies such as Amazon AMZN, Alphabet (Google) GOOG, FB Meta (Facebook), Apple AAPL, etc. Tesla’s stock price currently sits on $922.43 USD (as of 16.02.2022). These are particularly new heights and nothing that had been seen prior to 2020.

Tesla has experienced an astonishing rise of 1290% since January 2020 (Fig.1) going up from around $100 USD to $1213.90! Many believe that this is purely the first steps in the company’s target to have a big influence and acquire a huge slice of the market share in the automobile industry. Whilst many things would need to improve for the EV car market to fully be integrated in our lives, i.e battery charging infrastructure, battery life and variety of cars, Tesla seems to be well placed to usher in a new era and be considered as a giant in the space.

With everything said, the stock price has taken a bit of a beating this year after the incredible run. Tesla’s price fell by 30% since the turn of this year, reaching a low of $830.50 USD on the 27^th of January 2022 (Fig.2), which is still a huge 800% rise from 2 years ago.

Fig 1.

Fig 2.

Tesla’s Elon Musk Donates

Tesla’s chief executive, Elon Musk, donated a total of 5,044,000 shares in the world’s most valuable automaker to a charity from 19 November to 29 November last year (2021), its filing with the US Securities and Exchange Commission (SEC) showed on Monday 14^th February 2022.

The donation was worth $5.74bn, based on the closing prices of Tesla shares on the five days that he donated the stock. The filing did not disclose the name of the charity.

This makes Elon Musk one of the biggest philanthropists in the world second only to Bill gates and Melinda French.

Since the announcement was made, the share price has risen by 8.35% to end on $922.43. (Fig.3 below).

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Sources: Yahoo Finance, Guardian.com, Tradingview, Wikipedia