Elon Musk donates Rs 960 crore Tesla shares shortly before New Year to...

Tesla CEO Elon Musk has donated 268,000 Tesla shares, valued at approximately $108.2 million, to unnamed charities, according to a regulatory filing on Tuesday. The donation was made shortly before the New Year as part of Musk’s year-end tax planning.

The filing noted that the shares were donated to “certain charities” that have “no current intention to sell such stock.” However, the beneficiaries of the donation remain undisclosed, reported Reuters.

This move continues Musk’s trend of substantial charitable contributions. In 2022, he donated Tesla shares worth $1.95 billion, and in 2021, he gave $5.74 billion to the Musk Foundation, his non-profit organization. The foundation provides grants for various causes, including the development of safe artificial intelligence for the benefit of humanity.

Musk, the world’s richest person with a net worth of $408.3 billion according to Forbes, owns about 12.8% of Tesla. He has not publicly commented on the latest donation.

These philanthropic gestures highlight Musk’s growing focus on charity, particularly in areas that align with his technological and humanitarian interests.