Elon Musk has revealed that he has donated approximately 12 million Tesla shares to charitable organizations.
The billionaire disclosed the donations in an SEC filing, and the fact that they tended to be concentrated near the end of the year raises the possibility that tax planning was involved. The gifts were worth $2.42 billion according to Tesla’s TSLA, +7.51% Tuesday closing price.
Musk withheld the identity of the recipient.
Bloomberg discovered that all of the previous year’s $5.7 billion in Tesla stock donations went to his own foundation. This foundation donated $54 million to the X Prize Charity, and $55 million to St. Jude Children’s Research Hospital, totaling $160 million.
The most recent Musk Foundation nonprofit tax form available shows a total charitable contribution of $23 million in that year.
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