Elon Musk gives away $2 billion worth of Tesla shares to charity, finds new Twitter CEO
Billionaire Elon Musk said he donated roughly $1.95 billion (£1.6 billion) worth of shares in his electric carmaker to charity last year.
The share giveaway of about 11.6 million shares was described as a “bona fide gift” in a filing with US regulators.
Nairametrics gathered that the donation was made between August and December of last year, according to the document filed with the US Securities and Exchange Commission (SEC). The recipients or receivers were not named in the filing.
Previous giveaways: It is not the first time that Mr Musk has donated Tesla stock to charity. In 2021, Musk donated about $5.74 billion worth of Tesla shares, according to a regulatory filing, and stated on Twitter that he planned to donate $20 million to schools in Cameron County and $10 million to Brownsville, Texas for downtown revitalisation.
With an estimated net worth of $197.5 billion, this is not the first time Mr. Musk has given Tesla stock to charitable organizations.
New CEO for Twitter: Elon Musk has also stated that he intends to find a successor as CEO of Twitter by the end of 2023. He stated this while speaking during the World Government Summit in Dubai via video link.
“I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year.
“I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out.
The backstory: The billionaire bought twitter the last year for $44 billion. He later stated that the company was on the verge of going bankrupt. However, Musk has been attacked by some Tesla investors for spending too much of his time concentrating on trying to turn around Twitter.
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Full Story: https://nairametrics.com/2023/02/16/elon-musk-gives-away-2-billion-worth-of-tesla-shares-to-charity-finds-new-twitter-ceo/
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