Elon Musk Donated $1.9 Billion-Worth Of Tesla Stock To Charity In 2022

Elon Musk donated $1.9 billion worth of Tesla stock – about 0.01% of his total net worth – to charity last year, a report said.

According to a regulatory filing published Tuesday, 11.6 million shares were all gifted to a charity from August to December last year. The filing did not name the recipients of the donation.

Musk, who is worth $194 billion according to Forbes, gave away nearly 70% of the shares for three days in December 2022.

The Tesla chief executive also reportedly sold at least $22 billion worth of shares in 2022, per another Forbes report. His donation of Tesla shares to charity reportedly reduced the taxes he owed on profits from selling said shares.

In 2021, Musk also donated $5.7 billion worth of shares to charity, according to a BBC report.

Meanwhile, the multi-billionaire businessman got slammed by some Tesla investors after buying the social media platform Twitter for $44 billion. In light of this, Musk has reportedly hinted at handing over the chief executive position at Twitter by the end of 2023.

"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," he said, as quoted by the BBC.

"I think I need to stabilize the organization and just make sure it's in a financially healthy place and that the product roadmap is clearly laid out," he added.

Musk reportedly sold billions of dollars in Tesla stock to fund the purchase and dedicated a huge chunk of his time trying to overhaul the company. He is also currently the chief of the aerospace company SpaceX.

Hiromichi Mizuno, one of Tesla's board members, criticized Musk's brazenness toward Tesla stocks.

"I disagree whenever Elon says I don't mind Tesla getting into bankruptcy if somebody else comes up with a better car," Mizuno told CNBC News.