Tesla Inc TSLA CEO Elon Musk donated 150,000 Dogecoin DOGE/USD in February which funded 63 individuals in Rwanda who lost their income due to COVID-19, according to a social media post by GiveDirectly.
What Happened: GiveDirectly, a non-governmental organization that specializes in digital cash transfers to the impoverished, said on Twitter on Tuesday that each of the recipients received approximately $152.
On Feb. 21, DOGE traded between $0.05 to $0.06. The donated amount, therefore, most likely ranged between $7500 to $9,000.
At press time, DOGE traded 5.54% higher at $0.21 over 24-hours. The Shiba Inu-themed currency is down 33.64% over a week.
DOGE traded 2.15% and 3.06% against Bitcoin BTC/USD and Ethereum ETH/USD over 24 hours. BTC traded 3.54% higher at $33,860.56 at press time, while ETH traded 2.74% higher at $2,001.09 in the same period.
Why It Matters: Musk, the third richest person on the Bloomberg Billionaires Index, had a total net worth of $172 billion at press time.
In January, Musk donated $5 million to the online education platform Khan Academy, the academy operates as a non-profit and provides free online education.
See Also: Elon Musk Discloses Funding WhatsApp Rival Signal, Says Will 'Donate More'
This month, Ethereum co-founder Vitalik Buterin, said he sold half of his DOGE holdings and received $4.3 million. He said he gave the profits to GiveDirectly.
Square Inc SQ and Twitter Inc TWTR CEO Jack Dorsey sold his first-ever tweet for $2.9 million as a non-fungible token or NFT in March and converted the proceeds to Bitcoin BTC/USD, which he also donated to Givedirectly’s Africa response.
Price Action: On Tuesday, Tesla shares closed 0.46% higher at $623.71.
Photo by NVIDIA Corporation on Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
