Elon Musk donates almost $2bn of Tesla shares to charity

Last year, Tesla CEO Elon Musk donated $1.95bn (£1.6bn) in shares to charity.

"A bona fide gift" of 11.6 million shares was reported to US regulators.

The document did not identify the donation beneficiaries.

On Wednesday, Mr. Musk suggested the end of the year would be a "excellent moment" to select a new Twitter CEO.

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The SEC filing stated the donation was made between August and December last year.

Tesla did not respond to BBC inquiries.

Musk has donated Tesla stock to charity before. Regulatory filings show he gave $5.74bn in shares in 2021.

That year, he tweeted that he will gift $20m to Cameron County schools and $10m to Brownsville, Texas, for "downtown revitalization".

Tesla workers organise.
Musk's Tesla tweet not fraud.
Mr. Musk has also intimated that he will recruit a Twitter CEO around 2023.

"I think it should be in a solid position about, you know, by the end of this year," he remarked.

"I think I need to stabilise the organisation and just make sure it's financially healthy and that the product roadmap is clearly put out," he said on a video link at the World Government Summit in Dubai.

The billionaire bought the social media network for $44bn last year. He indicated the company was near insolvency.

Some Tesla investors have criticised him for spending too much time attempting to turn Twitter around.

Mr. Musk said he works too much at Twitter, Tesla, and SpaceX at the G20 Summit in Bali, Indonesia, in November.

"My workload has increased," Mr. Musk remarked. "I'm overworked," he said.

Source: BBC