Elon Musk XElon Musk X

Tesla chief executive Elon Musk donates around $1.95bn worth of shares in 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”.

Elon Musk owns Tesla, SpaceX and now twitter too making him one of the most versatile entrepreneur.

The filing did not name the recipient, or recipients, of the donation. Also on Wednesday, Mr 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.

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A rating by the Chronicle of Philanthropy, which was created prior to Musk’s declaration, places him as the second-largest philanthropic donor in 2022. Bill Gates is ranked first in The Chronicle’s rating with gifts totaling $5.1 billion, followed by Michael Bloomberg with $1.7 billion.

According to Forbes’ real-time billionaire tracker, Musk’s net worth by the end of 2022 was $137 billion, thus the $1.9 billion was roughly 1.4% of that amount.

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The document lodged with the US Securities and Exchange Commission showed the donation was made between August and December last year. Mr. Musk, who is thought to have a net worth of $197.5 billion, has donated Tesla stock to charities before. In 2021, he gave out shares worth approximately $5.74 billion, according to a regulatory filing.

In addition, he announced on Twitter same year that he intended to give $10 million to Brownsville, Texas for “downtown revitalization” and $20 million to Cameron County schools. Because he believed the business should be in a secure position by the end of the year, he predicted that it would be a good idea to choose a new CEO around that time.

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By hachitm