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Elon Musk donates Tesla shares worth $112 million to charities that have "no current intention to ..."#

Tesla CEO Elon Musk has donated 268,000 Tesla shares worth almost $112 million to charity, according to a regulatory filing on December 30. This isn't the first time Musk has made large charitable donations.

In 2022, he donated $1.95 billion worth of Tesla shares to charity in several transactions between August and December. In 2021, he gave away $5.7 billion worth of Tesla shares, which was later revealed to have gone to his own foundation.

Why Elon Musk donated his shares

The shares, as stated in the filing with the Securities and Exchange Commission (SEC), were donated as part of Musk's "year-end tax planning" to "certain charities" that have "no current intention to sell such stock," the filing showed.