Elon Musk, the tech billionaire, has disclosed that he donated shares in his electric car company, Tesla, worth about $1.95 billion (£1.6 billion) to charity last year.
In a filing with US regulators, the share giveaway of around 11.6 million shares was referred to as a “bona fide gift.”
According to the paperwork submitted to the US Securities and Exchange Commission, Gadgets Africa understands that the gift was made between August and December of last year (SEC). The document did not include the names of the recipients or receivers.
This is not the first time Mr. Musk has donated Tesla stock to a good cause. According to a regulatory filing, Musk gave away nearly $5.74 billion worth of Tesla stock in 2021.
He also announced on Twitter that he will give $20 million to Cameron County schools and $10 million to Brownsville, Texas, for downtown revitalization.