Elon Musk donated almost $2bn of Tesla shares to charity
Billionaire Elon Musk says he donated around $1.95bn worth of shares is his company Tesla to charity last year.
Musk – once the world’s richest man, donated 11.6 million shares, which was described in a filing with US regulators as “a bona fide gift.”
The filing did not name the recipient, or recipients, of the donation.
On Wednesday, Musk also said that towards the end of the year it would be a “good time” to find someone to succeed him as the chief executive of Twitter.
The donation was made between August and December last year, according to official documents.
Musk is no stranger to giving Tesla stock to charity. In 2021, he donated $5.74bn worth of shares in 2021, according to a regulatory filing.
Musk is looking towards finding his successor as Twitter boss by the end of 2023, following his controversial takeover of the streaming site for $44bn.
“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.
“I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” he said on a video link at the World Government Summit in Dubai.
Musk’s Twitter takeover was partly blamed for Musk losing the world’s richest man position, as Tesla investors criticised Musk for spending too much time trying to turn the social media site around. He had previously said the company was close to bankruptcy.
Musk is the boss of Twitter, Tesla and SpaceX boss.
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