Elon Musk donated $1.9 billion worth of Tesla stock to charity last year

The South African billionaire Elon Musk donated approximately $1.9 billion worth of shares in the electric car maker Tesla to charitable organizations during the past year, according to data presented by the magnate to the Securities and Exchange Commission (SEC) collected by The Wall Street Journal.

Entrepreneur, CEO of automobile manufacturer Teslainformed US regulatory authorities that it donated approximately 11.6 million shares last year, a figure, however, less than the donations of the previous year.

According to the economic daily, charitable donations from Musk in 2021 they were valued at approximately US$ 5.7 billion, although, like those of last year, it is unknown to which organizations they were destined.

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Muskwhich now owns about 13% of the capital of Teslaalso sold roughly $23 billion of its stake in the automaker during 2022, in part to support its purchase of social networking site Twitter Inc.

The billionaire acquired the popular social network last year after reaching an agreement with its shareholders for an amount of US$ 44,000 million.

The newspaper recalls that Tesla’s shares fell 65% last year, in its worst annual record, with which its market value decreased to US$ 675,000 million.

These figures caused Musk to have to cede the unofficial title of world’s richest person to French billionaire Bernard Arnault in December, The Wall Street Journal added.

The actions of Tesla they have recouped some of their 2022 losses. The stock is up about 70% this year and closed up 7.5% at about $209.25 in Tuesday trading, it said.

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A new CEO for Twitter

The owner of Twitterwhich has been embroiled in numerous controversies since it bought this company, said Wednesday that it hopes to find a new CEO of the social network by the end of this year, after announcing last December that it will resign only when it finds someone to replace it.

“I guess probably towards the end of this year will be a good time to find someone else to run the company”said Musk in a video call on the last day of the World Summit of Governments, which is being held in Dubai.

Since Musk took over Twitter last year and announced changes to the social network, several United Nations officials have expressed concern about the possibility that the new course that the tycoon wants to set for the company means that the fight against false news is weakened. and hate speech.

Source: EFE