Elon Musk donates almost $2bn of Tesla shares to charity
Elon Musk donated approximately $1.95 billion worth of Tesla shares to charity last year, according to a filing with US regulators. The donation consisted of 11.6 million shares and was described as a “bona fide gift”.
Elon Musk, the CEO of Tesla, donated 11.6 million shares, worth around $1.95bn, to charity last year, according to a filing with US regulators.
The recipient of the donation was not named in the filing. In 2021, Musk donated about $5.74bn worth of Tesla stock to charity and announced plans to donate $20m to schools in Cameron County and $10m to Brownsville, Texas, for “downtown revitalization”.
On Wednesday, Musk also said that the end of this year would be a “good time” to find someone to succeed him as the CEO of Twitter. Tesla did not respond immediately to a request for comment.
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Elon Musk has suggested he will look for a successor to be the CEO of Twitter by the end of 2023.
He stated that the company needs to be in a stable position financially and in terms of its product roadmap before he can step down.
Musk has been criticized by some Tesla investors for focusing too much on Twitter. He purchased the social media platform for $44bn and has since said that the company was close to bankruptcy.
Musk has admitted that his workload has increased significantly as he juggles responsibilities at Twitter, Tesla, and SpaceX.
–Source: BBC News
