Elon Musk Donates 268,000 Tesla Shares to Charities

Investing.com -- Tesla CEO Elon Musk donated 268,000 shares of his company to undisclosed charities, as revealed in a regulatory filing earlier this week. This donation is part of Musk's year-end tax planning, and it is reported that the selected charities currently have no plans to sell the shares.

This act of philanthropy reflects Musk's actions in 2022, during which he donated $1.95 billion worth of Tesla shares. In the previous year, 2021, Musk contributed approximately $5.74 billion to the nonprofit Musk Foundation.

According to the latest closing estimates, the value of the recent donation is estimated to be around $108.2 million. Musk, who owns approximately 12.8% of Tesla, has made these charitable donations a regular part of his year-end activities.

The Musk Foundation, chaired by Musk, provides grants for various purposes. As stated on the foundation's website, one of its primary focus areas is "the development of safe artificial intelligence that benefits humanity."