Tesla CEO Elon Musk donated $1.95 billion of stock in the world’s most valuable automaker to charity last year, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
Musk donated about 11.6 million shares between August and December last year, according to the filing, which did not specify which organization or organizations were the recipients.
The second richest person in the world now owns about 13% of Tesla.
Tesla did not immediately respond to an email requesting information about which charity or charities received the donations.
Musk donated about $5.74 billion in 2021.
Analysts have said that Musk could benefit from donating Tesla stock if he donates it to charity, since shares donated to charities do not have to pay capital gains taxes, as they do with sales.
In 2012, Musk signed the Giving Pledge, a pledge by some billionaires to give at least half of their wealth to philanthropy during their lifetime or after they die.
In 2001, he founded the Musk Foundation, which, according to its website, offered grants, among other things, for “the development of secure artificial intelligence for the benefit of humanity.”
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
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