Tesla CEO Elon Musk gave stocks worth $1.95 billion in the world’s most valuable automaker to charity in the previous year, a filing with the U.S. Securities and Exchange Commission (SEC) revealed on Tuesday.
According to the filing, Musk gave away approximately 11.6 million stocks between August and December of last year, without specifying which organization or organizations received them.
13% of Tesla is owned by the world’s second-richest person.
Tesla didn’t reply instantly to an email requesting information on which charity or charities received the donations.
In 2021, Musk donated approximately $5.74 billion.
According to analysts, Musk might benefit from gifting Tesla stock if he gave it to charity, since stocks donated to charities do not have to pay capital gains tax, as they would if they were sold.
Musk decided to sign the Giving Pledge in 2012, pledging to donate at least half of his fortune to charity during his lifetime or after his death.
According to its website, Musk established the Musk Foundation in 2001 to provide funding for the “advancement of safe artificial intelligence to help mankind,” among other causes.
