Musk sold another $1.2 billion worth of Tesla stocks on Friday, a total of $6.9 billion worth of stocks sold this week

The world’s richest man and Tesla biggest shareholder Elon Musk sold about a total of $6.9 billion worth of shares in the electric car company Tesla Inc. founded in 2003 whose value has touched $1 trillion this week. It is one of the largest-ever stock disposals by any chief executive and he sold about 1.2 million shares on Friday which had a worth of about $1.2 billion as part of his latest transactions.

Elon Musk last Saturday tweeted that he would sell about 10% of his shares if the users poll for that. It is a first time Mush cashed out on a stake of that big size. He also sold additional $1.1billion worth of Tesla stocks in order to pay the taxes associated with the exercising of stock options. Until now, he has sold about 3% of his shares but it is still not revealed what will he do with such a big amount. The various charity institutions are getting their hopes high up which are always looking for wealthy donors.

Melissa Berman, CEO of Rockefeller Philanthropy Advisors which is a nonprofit organization which advises people on charitable giving, stated, “His opportunity to have great impact is to donate very significant sums of money to leading organizations that are dealing with the most pressing problems with global poverty and access to healthcare.”

David Beasley last month urged Musk and other billionaires to come forward and donate to end global poverty. On this, Musk tweeted, “if (the United Nations World Food Programme) can describe … exactly how $6 billion will solve world hunger, I will sell Tesla stock right now and do it.” Beasley also tweeted to ask him to meet to discuss the details. Later then, he conducted a poll and now even selling his shares.

Musk is not behind when it comes to charity. He also signed the Giving Pledge in 2012 which is a commitment to donate at least half of their wealth to philanthropy in their lifetime or upon their death signed by various billionaires. He also set up the Musk Foundation where he offered donations for the “development of safe artificial intelligence to benefit humanity”. He also once asked his followers on Twitter about “ways to donate money that really make a difference (way harder than it seems.)”