Elon Musk donates $2 billion worth of Tesla stock to charity, finds a new Twitter CEO

Billionaire Elon Musk said he donated an estimated $1.95bn (£1.6bn) worth of shares in his electric car maker to charity last year.

The stock giveaway of around 11.6 million shares was described as a “good faith gift” in a filing with US regulators.

Nairametrics compiled 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 trustees were not named in the filing.

Previous draws: It’s not the first time Musk has donated Tesla stock to charity. In 2021, Musk donated about $5.74 billion worth of Tesla stock, 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 the revitalization of the center.

With an estimated net worth of $197.5 billion, this isn’t the first time Musk has donated Tesla stock to charity.

New CEO of Twitter: Elon Musk has also stated that he intends to find a successor as CEO of Twitter by the end of 2023. He said this while speaking during the World Government Summit in Dubai via video link.

  • “I guess probably the end of this year would be a good time to find someone else to run the company, because I think it should be in a stable position, you know, by the end of this year.
  • “I think I need to stabilize the organization and make sure it’s in a financially healthy place and the product roadmap is clearly in place.

The backstory: The billionaire bought Twitter last year for $44 billion. He later claimed that the company was on the verge of bankruptcy. However, Musk has come under fire from some Tesla investors for spending too much time focused on trying to turn Twitter around.

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