Elon Musk donates almost $2bn of Tesla shares to charity

Tesla chief executive Elon Musk has revealed he donated around $1.95bn worth of shares of his electric carmaker to charity last year.

 

The donation of 11.6 million shares was described in a filing with US regulators as “a bona fide gift” even though the filing did not name the recipient, or recipients, of the donation.

 

The document lodged with the US Securities and Exchange Commission showed the donation was made between August and December 2022.

It is not the first time Musk has given Tesla stock to charity. He donated around $5.74bn worth of shares in 2021, according to a regulatory filing.

He also said on Twitter that year, that he planned to donate $20m to schools in Cameron County and $10m to the city of Brownsville in Texas for “downtown revitalization”.

 

Also on Wednesday, February 15, Musk said that towards the end of this year would be a “good time” to find someone to succeed him as the chief executive of Twitter.

 

“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 said.

“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,” he said on a video link at the World Government Summit in Dubai.

The multi-billionaire businessman bought Twitter last year for $44bn. He has since said the company was close to bankruptcy.