Tesla CEO and billionaire entrepreneur Elon Musk donated roughly $1.95 billion worth of the company’s shares to charities in 2022, according to a filing with the U.S. Securities and Exchange Commission (SEC) reported by Reuters on Wednesday.
The filing showed that Musk donated roughly 11.6 million shares in a period between August and December, though it did not disclose the beneficiary or multiple beneficiaries of the donations.
Musk owns about 13 percent of Tesla following the donation, and he’s currently the world’s second-richest person with $187 billion in total net worth, according to Bloomberg’s Billionaire Index.
In 2021, Musk donated roughly $5.74 billion worth of Tesla shares to charities, according to a filing last February.
Some analysts have since pointed out that Musk would be exempt from capital gains taxes for donating to charity, rather than for selling Tesla shares.
In 2012, Reuters notes, Musk signed the Giving Pledge in which some billionaires pledged to give at least half of their wealth away to philanthropy in their lifetimes or when upon their passing.
Musk also runs the Musk Foundation, set up in 2001 and giving grants away dedicated to the “development of safe artificial intelligence to benefit humanity,” and goals surrounding solar power and renewable energy, according to the 501c3’s website.
Elon Musk to Speak at 2023 World Government Summit Next Week https://t.co/lMlXzmUGxv
— TeslaNorth.com (@RealTeslaNorth) February 12, 2023
