Billionaire Elon Musk, CEO of Tesla, donated $1.95 billion worth of shares in the world’s most valuable automaker to charity last year.
A disclosure with the US Securities and Exchange Commission showed that Musk donated about 11.6 million shares between August and December last year, but he did not indicate who received the donations.
The second richest person in the world now owns about 13 percent of Tesla.
Musk had donated about $5.74 billion in 2021.
Analysts say Musk could benefit from gifting Tesla shares if he donates them to charity, because shares donated to charity do not have to pay capital gains tax as they would if they were sold.
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