Elon Musk Sold Tesla Stocks worth $900M; UN Responded to Musk’s Challenge In Tweeting How To Solve World Hunger

Elon Musk Sold Tesla Stocks worth $900M; UN Responded to Musk’s Challenge In Tweeting How To Solve World Hunger
Elon Musk’s tweet world hunger, and all eyes including the United Nations. The UN released a plan on how to solve world hunger. Furthermore, Elon Musk sold Tesla Stocks for $900M. Photo : FREDERIC J. BROWN / Getty Images

Elon Musk's tweeted about world hunger, and all eyes are on the CEO, including the United Nations,

The United Nations has released a plan for how it will spend roughly $7 billion on how to solve world hunger, in response to a challenge from Tesla creator Elon Musk.

Furthermore, Elon Musk sold Tesla Stocks had gained $900M from it.

Elon Musk Tweet World Hunger

Three weeks ago, David Beasley, executive director of the United Nations' World Food Programme, or WFP, told CNN that around 2% of Musk's $279 billion net worth might be used to help end hunger. He went on to say that a $6.6 billion donation will "avert starvation" next year in a tweet.

Musk replied via Twitter after seeing the interview that if the United Nations give him something, he would sell his electric car company's stock, which is worth more than $1 trillion.

That is provided they have an an explanation on how to solve world hunger using the funds.

Read Also: Elon Musk Ready to Sell Tesla Stocks to End World Hunger, But There's a Catch 

How to Solve World Hunger By United Nation

As reported by CBS News, about $3.5 billion of a $6 billion gift would go toward buying food for people mostly in Africa and the Middle East, including Afghanistan, the Democratic Republic of the Congo, Sudan, South Sudan, and Yemen.

The money would also go for food distribution by air, river, or truck in those and other countries.

According to the United Nations, the proposed proposal will feed 42 million hungry people. The WFP plan also includes the following:

  • First, the $700 million will be spent on developing food voucher programs in 43 countries where they don't presently exist, including office and satellite-office buildings and their security, as well as the monitoring of distributions and outcomes, ensuring that the help reaches the most disadvantaged.
  • Second, in nations where such programs already exist, $2 billion will be spent on cash and food vouchers.
  • Third, spending $400 million to improve global supply-chain logistics and develop a global hunger monitoring system.

However, the said proposal does not specify how much money, if any, would be spent to address hunger in the United States.

The United Nations is a global organization. $6 billion, he said, would not be enough in addressing solve world hunger.

According to the organization, the money would offer one meal per day to millions of people experiencing famine.

Elon Musk Sold Tesla Stocks

Tesla CEO Elon Musk continued to sell his company's stock on Monday, November 15.

However, more is on the way, according to his most recent file.

Musk's Tesla stock sold for $931 million, another Tesla stock sale, bringing his total stock sales in the last six trading days to $7.8 billion.

The Tesla stock transactions on Monday are part of a two-month-old plan to exercise a larger block of stock options before they expire in August.

Elon Musk Tax

According to CNN, company insiders, such as CEOs, are allowed to set up a stock-selling plan that will allow them to sell their shares without being influenced by any non-public knowledge they may have about the company.

However, some might view this as part of Elon Musk's tax avoidance tactics to prevent him from paying a larger sum of money.

The sales are the result of a Twitter poll he conducted on November 6 and 7, in which he asked followers if he should sell 10% of his company's stock to boost his taxable income.

However, the Monday sales were prompted by his desire to exercise stock options before they expire in August, as well as the obligation that he pay taxes on those shares once he does so.

 

Related Article: Elon Musk's Net Worth Gets $25 Billion Boost from Tesla Stocks 20% Increase: Is Jeff Bezos Still the Richest Man?

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