When Elon Musk transferred $5.7 billion of Tesla stock to his personal foundation at the end of 2021, he lowered a massive tax bill, while also giving himself philanthropic clout — in the form of a $9.4 billion endowment — that only a handful of billionaires have.
The often boisterous Twitter owner has shed some insight on his giving since then. But one thing seems clear: as the shares of Tesla Inc. by more than 57% this year, enough for him to unseat Musk as the world’s richest person, his foundation is likely to shrink drastically in size and influence by 2023.
