Elon Musk donated nearly two billion dollars worth of Tesla shares for charitable purposes

Tesla CEO Elon Musk says he donated approximately 1.95 billion dollars worth of shares for charitable purposes last year. The donation of 11.6 million shares was described as a ‘gift in good faith’ in a filing to U.S. regulators, reported the BBC. The recipients of the donation were not named in the filing.

The document submitted to the U.S. Securities and Exchange Commission showed that the funds were donated between August and December of last year. It is worth noting that this is not the first time Musk has donated Tesla shares for charitable purposes, as he donated shares worth approximately 5.74 billion dollars in 2021, according to regulatory filings.

He also announced on Twitter that year that he planned to donate 20 million dollars to schools in Cameron County and ten million dollars to the city of Brownsville, Texas for ‘revitalization of the downtown area’.

Time for a new Twitter CEO

Musk said on Wednesday that it would be a ‘good time’ to find someone to succeed him as CEO of Twitter by the end of this year.

– I assume that the end of this year would be a good time to find someone else to lead the company, because I think it should be in a stable position, you know, by the end of this year – he said.

– I think I need to stabilize the organization and just make sure it is in a financially healthy place and that the product plan is clearly set – he said during a video meeting at the World Government Summit in Dubai.

It is worth noting that Musk bought Twitter last year for 44 billion dollars, and since then he has stated that the company is close to bankruptcy. In the meantime, many Tesla investors have criticized him for spending too much time focusing on trying to turn around the social media platform.

In November, speaking at the G20 summit in Bali, Indonesia, Musk agreed with this assessment.

– My workload has recently increased quite a bit… I have too much on my plate, that’s for sure – he concluded.