It wasn't disclosed which charity organisations benefited from his generosity. Read more at straitstimes.com.
SAN FRANCISCO - Tesla chief executive Elon Musk donated shares worth US$1.95 billion in the world’s most valuable automaker to charity in 2022, a filing with the US Securities and Exchange Commission showed on Tuesday.
Mr Musk donated about 11.6 million shares between August and December 2022, according to the filing, which did not say which organisation or organisations were the recipients.Mr Musk donated about US$5.74 billion in 2021. Analysts have said that Mr Musk may benefit from gifting Tesla stock if he donates it to charity, since shares donated to charities do not have to pay capital gains tax, as they would if they were sold.
Mr Musk signed the Giving Pledge in 2012, a commitment by some billionaires to give at least half their wealth to philanthropy in their lifetime or upon their death. In 2001, he set up the Musk Foundation, offering grants for the “development of safe artificial intelligence to benefit humanity” among other causes, according to its website. REUTERS
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