Elon Musk Gave Nearly $2B Worth Of Tesla Shares To Charity In 2022

Tesla Inc TSLA CEO Elon Musk gave $1.95 billion worth of the automaker’s shares to charity, according to a filing made with the Securities and Exchange Commission.

What Happened: The Tesla CEO donated almost 11.6 million shares of the automaker between August and December 2022, according to the SEC filing. After the donation, Musk now owns nearly 13% of Tesla.

In 2021, Musk donated $5.57 billion worth of shares to charity. 

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Why It Matters: In 2021, Musk responded to a United Nations World Food Programme (WFP) tweet saying he was ready to sell $6 million worth of shares if the agency could show a roadmap on how it would tackle world hunger using the money.

In 2002, Musk launched his Musk Foundation with his brother Kimbal. The organization donates to issues related to renewable energy, pediatrics, space exploration, and artificial intelligence, according to its succinct website.

Last year, he said that his Foundation plans to donate directly to families after noting the dangers related to the depopulation of the planet.

Musk is a signatory to the “Giving Pledge” — a commitment made by the uber-wealthy to give the majority of their wealth to address “society’s most pressing problems.”

Price Action: On Tuesday, Tesla shares closed 7.5% higher at $209.25 in the regular session and gained 1.1% to $211.53 in the after-hours trading, according to data from Benzinga Pro.

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Photo by Steve Jurvetson on Flickr