Elon Musk, the CEO of Tesla, claims to have donated approximately $1.95 billion worth of the company’s shares to charity last year.
In a filing with US regulators, the donation of 11.6 million shares was referred to as “a bona genuine gift.”
The donation’s recipient or recipients were not identified in the filing.
Also on Wednesday, Musk stated that it would be “excellent timing” to identify a replacement for him as Twitter’s CEO around the end of the year.
The donation was made between August and December of last year, according to the paperwork submitted to the US Securities and Exchange Commission.
Musk has donated Tesla stock to charities before as well. In 2021, he gave out shares worth approximately $5.74 billion, according to a regulatory filing.
In addition, he announced on Twitter the same year that he intended to give $10 million to Brownsville, Texas for “downtown revitalization” and $20 million to Cameron County schools.
Musk has also hinted that he plans to find his successor as chief executive of 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,” Elon Musk said.
At the World Government Summit in Dubai, through a video link Musk 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.”
The social media company, Twitter, was purchased by the multibillionaire businessman last year for $44 billion. Later, he claimed that the business was on the verge of failure.
Some Tesla investors, though, have criticised him for focusing too much of his attention on attempting to turn around Twitter.
Speaking at the G20 Summit in Bali, Indonesia in November, Musk said that he works too much, juggling his duties at Twitter, Tesla, and his rocket business SpaceX.
“My workload has recently increased quite a lot,” Mr Musk said. “I have too much work on my plate, that is for sure,” he added.
