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According to the BBC, Elon Musk donated $1.95 billion of Tesla stock to charity between August and December last year. This charitable act is revealed in a regulatory filing and described as “a bona fide gift.” Yet, the recipient or recipients of these billions need to be clarified, and the filing didn’t reveal the names.
Of course, this is not the first time that Musk is donating billions of dollars of Tesla shares to charities. Back in 2021, he gave up $5.74 billion of shares. Additionally, he promised to donate $20 million to Cameron County schools and $10 million to the city of Brownsville in Texas for the so-called “downtown revitalization.”
Musk has recently lost his position as the wealthiest man on the planet and was replaced by Bernard Arnault, co-founder, chair, and CEO of LVMH. The reports also claim Musk lost $200 billion of his wealth in over a year.
Elon Musk donates almost $2 billion of Tesla stock to charity while the company’s stock is plummeting
Elon Musk is probably one of the most controversial people in the world due to his Twitter takeover and the radical changes he made to the social media company. Of course, Musk’s occupation as Twitter CEO didn’t go well with Tesla shareholders. They complained Musk is devoting much of his focus and time to Twitter, and the EV maker is running on a wing and prayer.
Despite growth in pre-orders and EV delivery, Tesla stock is plummeting. The company stock has fallen 45% over two months, and it’s not showing any sign of recovery (via ABC News). That’s why Elon Musk is now more serious about leaving his executive role at Twitter and returning to Tesla.
The billionaire recently said the end of this year might be a good time for him to find another CEO for Twitter. “I think I need to stabilize the organization and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” Musk added.
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