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I don't understand, I am clearly missing something. >The Tesla shares were sold by Catalyst4 for $366 million over four days starting Dec. 14, 2021, the filing
by jaclaz 4y ago
I don't understand, I am clearly missing something.
>The Tesla shares were sold by Catalyst4 for $366 million over four days starting Dec. 14, 2021, the filings show.
So, if Catalyst4 sold the shares in December 2021, it cannot have been created with them.
On the other hand if the new organization is being setup now, where was the money stored since then?
- fatfingerd 4y agoI don't understand what is confusing. It was founded with assets (Tesla and Google shares) of which it must sell 5% a year but could sell a lot more.
- jaclaz 4y agoThe article says that Catalist4 sold the Tesla stock in December 2021. Maybe Brin (or one of his companies/holding/whatever) sold them and later (when, in these days, 1 and a half year later?) this Catalist4 organization has been founded?
- fatfingerd 4y ago> Another perk of 501(c)(4)s is secrecy. Catalyst4 had tax filings worth quoting in 2021 according to the article.. It's his newest ~nonprofit as far as we know, not a brand new nonprofit. It looks like it was was founded 10/22/2021 according to a CA DOJ search.
- jaclaz 4y agoThe article says that he is "setting up" a new one: >Google co-founder Sergey Brin is setting up a new half-billion-dollar nonprofit focused on health and climate change, and filings show the majority of funding so far comes from Tesla Inc. shares. > Catalyst4, the new organization, is a 501(c)(4), which allows Brin ... but it seems like that should have been more like (in plainer English): In 2021 Brin created a 501(c)(4) organization, named Catalyst4, to which (somehow) he conferred his Tesla stock that were later sold in December 2021, Bloomberg has learned only now by examining its past filings.