business
February 16, 2023
By Amar Singh
Elon Musk gave a charity $1.95 billion worth of Tesla shares last year, according to an SEC filing made public on Tuesday
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The gifts were made in 2022, a challenging year for the shares of the EV manufacturer, between August and December.
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Musk has already given Tesla shares to charitable organizations. He donated 5 million worth of shares to an unidentified charity in 2021.
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According to a Securities and Exchange Commission filing, Elon Musk gave $1.95 billion worth of Tesla shares to a charity last year.
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According to the report, the second-richest individual in the world distributed 11.6 million shares between August 12 and December 27 of last year. It was not specified to which charity Musk gave the shares.
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"Represents a bona fide gift of the Issuer's common stock by the Reporting Person to charity," the report said.
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Analysts have criticized Musk for using Tesla as his own "ATM machine" to finance his purchase of Twitter.
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The tech mogul sold over $40 billion worth of Tesla shares at the end of 2022 to pay off debts and taxes.
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When Insider contacted Tesla for comment, they did not react right away.
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