Elon Musk, the CEO of Tesla, gave shares in the most valuable automaker in the world worth $1.95 billion to charity last year, according to a filing with the U.S. Securities and Exchange Commission (SEC), which was made public on Tuesday.
According to the filing, Musk gave away about 11.6 million shares between August and December of last year. The filing did not specify which organisation or organisations were the beneficiaries.Currently, the second-richest person in the world own 13% or so of Tesla.
An email requesting information on which charity or charities received the donations was not immediately answered by Tesla.
In 2021, Musk gave out around $5.74 billion.
Since shares donated to charities do not incur capital gains tax, as they would if they were sold, analysts have suggested that Musk may benefit from gifting Tesla stock if he did so.
In 2012, Musk signed the Giving Pledge, which calls for billionaires to donate at least half of their wealth to charitable causes during their lifetimes or after they pass away.
He founded the Musk Foundation in 2001, which, according to its website, provides funding among other things for the “creation of safe artificial intelligence to benefit humanity.”