Elon Musk donates about $1.95 billion in Tesla shares to charity

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 Elon Musk has donated about $1.95 billion in Tesla shares to charity

Tesla CEO Elon Musk donated $1.95 billion worth of Tesla shares to charity last year, a filing with the SEC showed.

Musk donated about 11.6 million shares between August and December last year, but it's not clear which organizations were the recipients.

In 2021, Musk donated about $5.74 billion.

Musk may benefit from donating Tesla shares if he donates them to charity, since shares donated to charities are not subject to capital gains tax, as they are if they are sold.

Musk signed the Giving Pledge in 2012 , a commitment by some billionaires to give away at least half of their wealth to charity during their lifetime or after kill.

In 2001, he founded the Musk Foundation, which offers grants to “develop secure artificial intelligence for the benefit of humanity,” among other causes.

Musk now owns approximately 13% of shares of Tesla.

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