: Elon Musk discloses Tesla stock gift to charity worth about $2 billion. Last year, his donations all went to his own foundation.

by | Feb 15, 2023 | Stock Market

Elon Musk has disclosed that he’s donated nearly 12 million shares of Tesla to charity. In a filing made to the Securities and Exchange Commission, the billionaire revealed the donations, most of which were clustered toward the end of the year, which suggests that tax planning may have played a role. At Tuesday’s closing price for Tesla
the donations were worth $2.42 billion.

Musk didn’t disclose the recipient. However, last year’s Tesla stock donations worth $5.7 billion were found by Bloomberg to have entirely been sent to his personal foundation. That foundation made gifts worth $160 million, including $55 million to the St. Jude Children’s Research Hospital and $54 million to the X Prize Foundation. The most recent Musk Foundation nonprofit tax form that is public is from 2020, which showed total charitable donations of $23 million.

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