Fact Check: Did Elon Musk donate $112M worth of Tesla shares to help the homeless?

AUSTIN, TEXAS: Tesla and SpaceX CEO Elon Musk is well-known for his significant philanthropic contributions. However, rumors about him donating hefty sums are common online, and many have also been debunked.

Recently, a viral post claimed that Elon Musk has donated $112 million worth of Tesla shares to help the homeless. However, is there any truth to the rumor? Let us find out below.

Claim: Elon Musk donated $112M worth of Tesla shares to help homeless people

In February, a viral post claimed that tech mogul and multi-billionaire Elon Musk donated $112 million worth of shares in Tesla to help homeless people.

Several Facebook users spread the claim, as one person wrote, "BREAKING NEWS! Elon Musk donates $112 million in Tesla stock to homeless people, with special conditions."

Notably, the same post was shared by several other Facebook accounts.

An X (formerly Twitter) user also took to the platform and wrote, "Shocking #Elon Musk donates $119 million in #Tesla shares to help the homeless."

Partly true: No proof donation specifically went to help homeless people

The claims made in the online post are partially true as evidence confirms that Elon Musk donated around $112 million worth of Tesla shares, but there is no proof to back that it went to help the homeless, according to Snopes.

Notably, a US Securities and Exchange Commission (SEC) filing from December 31, 2024, showed that the Tesla CEO donated 268,000 shares of the company's stock, per the fact-checking outlet.

Moreover, Aaron Beckner, Musk's power of attorney holder, signed the document.

The filing mentioned that the donation formed part of Musk's "year-end tax planning" and would be given to "certain charities". However, it did not mention the charitable focus of these organizations, per Snopes.

Moreover, several reports from financial news outlets such as Bloomberg UK and Barron's mentioned that Musk's donation was valued at $112 million.

Elon Musk's earlier donations to unnamed charities

Elon Musk has reportedly made similar donations to unnamed charities earlier too, according to Snopes. An annual statement of changes in beneficial ownership SEC filing for 2021 showed he sent more than 5 million Tesla shares to charity.

Moreover, the shares were reported to be worth $5.7 billion at the time, and it had obtained a tax filing in 2022 that showed the funds went to Musk's own nonprofit, the Musk Foundation, according to Bloomberg UK.

In December 2024, Trump became the first person to have a net worth exceeding $500 million, according to the Bloomberg Billionaires Index.