Home » News » According to a US filing, Elon Musk donates shares of Tesla valued at almost $2 billion

According to a US filing, Elon Musk donates shares of Tesla valued at almost $2 billion

(Image Credit Google)
Tesla's CEO, Elon Musk, gave shares of his electric vehicle (EV) manufacturer worth billions to charity last year. The multi-billionaire businessman distributed Tesla shares valued at over $2 billion in 2022, according to a recent Security and Exchange Commission (SEC) filing. The SEC letter also revealed Musk's actions last year affecting Tesla shares. According to recent reports, the value of the shares that Musk contributed last year is close to $2 billion, or precisely $1.95 billion. It turns out that between August and December 2022, the Tesla CEO donated a sizable portion of the company's shares. According to the SEC filing, the internet entrepreneur donated 11.6 million shares to an unidentified charity during that time. [caption id="" align="aligncenter" width="976"]Elon Musk donates almost $2bn of Tesla shares to charity - BBC News Image credit- BBC News[/caption] Musk's donation amount was disclosed in the most recent filing, but the charity or organization that got the nearly $2 billion payment was not named. According to the reports, the document accurately refers to the donation from the previous year as "a bona fide gift." The massive EV manufacturer and its CEO have not yet responded to questions about the billions in donations received the year prior. Musk did mention plans to contribute millions of dollars in 2022, according to the BBC. He stated that he is "donating $20 [million] to Cameron County schools" in a tweet from last March 30. He also mentioned that he intends to give an additional $10 million for the "downtown renovation" of the "City of Brownsville." However, it's not apparent if these two beneficiaries are listed in the SEC filing. [caption id="" align="aligncenter" width="976"]Elon Musk donates almost $2bn of Tesla shares to charity - BBC News Image credit- BBC News[/caption] Elon Musk announced a new Twitter feature that will allow users to make money from advertisements in reply threads. It's important to note that this isn't the first time Musk has given to a good cause. In fact, a different SEC filing reveals that the millionaire gave more to charity in 2021. According to the website for The Giving Pledge, Bill Gates, a co-founder of Microsoft, and Warren Buffett are also signatories. Also read: Elon Musk sells more than 20 million shares of Tesla for $3.5 Billion Along with running Tesla and SpaceX, Musk just assumed control of the enormous social media platform Twitter. He is currently the latter's "Chief Twit."

By Jozeph P

Journalism explorer, tech Enthusiast. Love to read and write.

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