The donation of 11.6 million shares was described as a “genuine gift” in US regulatory filings. The submission did not identify the recipient or beneficiary of the donation. Also on Wednesday, Musk said it would be a “good time” to find his successor as Twitter’s chief executive later this year.
Documents filed with the US Securities and Exchange Commission show that the donations were made between August and December last year. Tesla did not immediately respond to his BBC request for comment. This isn’t the first time Musk has donated Tesla stock to charity.
He donated about $5.7 billion worth of stock in 2021, according to regulatory filings. He also said on his Twitter earlier this year that he plans to donate his $20 million to Cameron County schools and his $10 million to the city of Brownsville, Texas, for “revitalizing downtown.” I said yes. Musk has also indicated plans to find a successor as Twitter’s chief executive by the end of 2023. Because I think we should be in a stable position by the end of this year,” he said. In a video link from the World Government Summit in Dubai, he said “I think we need to make sure that we stabilize the organization, are in a financially sound place and has a clear product roadmap.
The billionaire bought the social media platform for $ billion last year and has since said the company is on the brink of bankruptcy. But some investors in Tesla were criticized for focusing too much on trying to flip Twitter.
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