Billionaire CEO Elon Musk donated 268,000 Tesla Inc. (NASDAQ:TSLA) shares to charity before the onset of 2025, as per a regulatory filing dated Dec. 31.
What Happened: According to the filing, Musk gave the shares to "certain charities" as part of his "year-end tax planning." The filing did not name the charities but said they "have no current intention to sell such stock."
Following the transaction, Musk still owns 410.794 million shares of the company.
Considering Tesla's closing price of $379.28 on Thursday, the 268,000 shares Musk gave to charity are worth $101.6 million as of today.
Why It Matters: According to the Bloomberg Billionaire Index, Musk has a total net worth of $415 billion, significantly higher than Amazon founder Jeff Bezos who seconds Musk with a $239 billion net worth.
In addition to being CEO of Tesla, Musk is also CEO of rocket manufacturing company SpaceX. He owns X Corp, the company that owns the social media platform X. Tesla, however, is the only publicly listed company among the three.
The billionaire's charitable foundation called the Musk Foundation, as per its website, makes grants in support of human space exploration and advocacy, science and engineering education, and development of safe artificial intelligence, among other causes.
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