Musk Has Donated Nearly $2bn of Tesla Shares to Charity
Last year, Elon Musk made a charitable donation of approximately $1.95 billion worth of shares in his electric car company.
The donation of 11.6 million shares was referred to as a “bona fide gift” in a filing with US regulators. However, the recipient or recipients of the donation were not named in the filing.
The donation was made between August and December of 2022, according to the filing.
In 2021, Musk donated about $5.74 billion worth of Tesla shares, according to a regulatory filing, and stated on Twitter that he planned to donate $20 million to schools in Cameron County and $10 million to Brownsville, Texas for downtown revitalisation.
In addition, he suggested that he would locate his successor as CEO of Twitter by the end of 2023, stating that this year would be an appropriate time to do so.
With an estimated net worth of $197.5 billion, this is not the first time Mr. Musk has given Tesla stock to charitable organizations.
“I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year,” he commented.
“I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out.”