Elon Musk continued his giving ways in 2022, donating more than 11.5 million shares in Tesla (TSLA) to charity last year. The donation follows Musk’s $5.5 billion philanthropic effort in 2021 in which he donated 5,044,000 shares of TSLA to charity.
In a Form 5 filing with the U.S. Securities and Exchange Commission (SEC) published on Tuesday, Musk donated the shares in seven different installments. The first two donations were in August prior to the 3 for 1 stock split, with another taking place shortly thereafter in September. The remaining four donations took place in late November and into December, when TSLA share prices were at their lowest.
In total Musk donated 11,570,599 shares to an unnamed charity. Based on closing prices on each of the days listed in the form the donation was worth about $1.95 billion, according to an analysis by Drive Tesla.
The Form 5 does not specify who was on the receiving end of the donation, only to say it was “a bona fide gift of the Issuer’s common stock by the Reporting Person to charity.” However it was likely to the Musk Foundation, which also received the 2021 donation.
The Musk Foundation was founded in 2001 shortly before he sold Paypal for $1.4 billion. The foundation uses its resources “primarily for renewable energy research and advocacy, human space exploration research and advocacy, pediatric research, science and engineering education, and development of safe artificial intelligence to benefit humanity.”
A separate 13G/A filing with the SEC also published on Tuesday shows Musk ended 2022 with 716,022,963 TSLA shares, or 20.6% of common stock class shares.
You can read the full Form 5 and 13G/A filings below.
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