Elon Musk must ensure that the World Food Program receives its promised money before it uses $44 billion to make Twitter private. Twitter has accepted an offer from Tesla and SpaceX CEO Elon Musk that the social media company’s tech giant or sole proprietorship will go for a $44 billion acquisition price. Musk began acquiring network access in January 2022, proposing a plan to generate the billions of dollars needed to buy Twitter, which includes money, businesses and rumors that the series has become a business. All the while — as the investor moves funds, stocks and capital with ease — the World Food Program has not yet seen the $6 billion that Musk promised a year ago.
The World Food Program outlined a plan on November 3, 2021 to help 42 million people in more than 40 countries around the world. Made an update the day before launched by Musk: the organization can be seen as a global combatant, the financial billionaire or the project. The proposal aims to help more vulnerable people and targets those suffering from ’emergency’ and ‘catastrophic’ levels of food security, as defined by the Integrated Food Security Stages classification. The announcement was exactly when the prayer would be spent, for what proposals and, in some cases, explained as the investment that will take root in the world. Embora Musk has promised to sell Tesla’s stock immediately to make the donation, it’s almost accelerated — and the organization still hasn’t received a dime from the executive chief.
The World Food Program is a set of United Nations that aims to combat form and food insecurity in the world, by allowing donations from member countries and individuals, the organization said. Its Executive Director, David Beasley, said: CNN that just two percent of Musk’s wealth could help solve the world’s population — the equivalent of about $6 billion. Shortly after, Musk crushed us on the World Food Program numbers. †If the WFP can figure out exactly how US$6 billion will be found in the world,”Musk confirmed for me Tweet†I’m now going to sell Tesla parts and do it.Curiously, Musk’s motivations for being alone for the World Food Program seem oddly similar to his reasons for taking over Twitter. It is credited with freedom of expression, accountability and transparency. So he challenged the organization to detail how his money would be used to fight the world shape before only using the $6 billion requested by Beasley. liberated, the contribution does not know as expected.
It turns out Musk was doing US$5.7 billion in Tesla stock for a “charity” that was undisclosed in February 2022, according to an official filing with the United States Mobile Values Commission (SEC). Received at the time of application, we fully acknowledge that it could have been a contribution to the World Food Program provided the organization had not received any money from the company. †I still don’t know if WFP will receive any of the money, but I’m delighted to know that Elon is involved,The organization’s executive director, Beasley, said in a February statement to: Forbes. However, no other major charity confirmed the gift had been received, and Musk did not recognize the prayer or comment on it publicly. So where was he? Very carefully, the donation was put into a donor advisory fund (DAF), which can maintain flagged charitable contributions until a donation is officially made. Operations within a DAF can be continued for years without being sent to a non-profit, while the owner of the fund can write off the transfer as a tax return.
Rather than keep his word and pray right away, Musk benefits from shifting the votes to a DAF. The tax credit Musk would have to receive to transfer US$5.7 billion worth of shares from Tesla to a DAF would be up to 30% of his total earnings in 2021, according to a report. Forbes estimating. If the World Food Program is successful, they could receive some or all of the $5.7 billion worth wrapped in mystery, but that possibility is uncertain. However, it seems likely that Twitter shareholders have long since been compensated for their participation in the company. Almiscar use its wealth to fight food insecurity.
Source: Forbes, SEC† World Food Programme, CNN, Elon Musk/Twitter