Billionaire from Russia liquidates Tesla holdings to commence philanthropic endeavors

Russian billionaire Sergey Brin, co-founder of Google, is aiming to create a half-billion-dollar non-profit foundation focused on health and climate change.

The data shows that most of the funding so far has come from Tesla shares, according to a Bloomberg report on Saturday.

The new Catalyst 4 is in a class of organizations that allow Brin to benefit from a powerful new philanthropic strategy that gives big billionaire donors tax breaks as well as a unique level of flexibility, privacy and political influence.

According to the data, Tesla’s Brain shares were sold to Catalyst 4 for $366 million in four days starting December 14, 2021.

Remarkably, this was close to the point where there was a clear disagreement between Brin and Elon Musk, the co-founder of the electric car maker.

Source: dpa

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