Elon Musk Donates Tesla Shares to Charity
He donated around $5.74bn worth of shares in 2021
Musk donates his electric carmaker Tesla shares to charity.
The donation of 11.6 million shares was described in a filing with US regulators as “a bona fide gift”. 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. The document lodged with the US Securities and Exchange Commission showed the donation was made between August and December last year. Tesla did not immediately respond to a request for comment.
It is not the first time Mr 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 revitalisation”.
Mr Musk has also hinted that he plans to find his successor as chief executive of Twitter by the end of 2023. Addressing the conference via video call at a World Government Summit in Dubai, Elon Musk said:
“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.
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.”
However, he has been criticised by some Tesla investors for spending too much of his time focussing on trying to turn around Twitter.
In November, addressing the G20 Summit in Bali, Indonesia, Mr Musk said he is working too much as he juggles his responsibilities at Twitter, Tesla, and his rocket company SpaceX.
“My workload has recently increased quite a lot. I have too much work on my plate, that is for sure.”
