In a Tuesday filing with the U.S. Securities and Exchange Commission, Elon Musk donated $1.1 billion to charity in 2022, according to a Tuesday filing with the U.S. Securities and Exchange Commission.
The Tesla TSLA CEO donated approximately 11.6 million shares between August and December, according to the filing.
The receiving organizations were not immediately known.
Analysts said Musk could benefit from gifting Tesla stock by donating to charity because he wouldn't have to pay capital gains tax on the donation if he sold shares.
In 2012, Musk signed the Giving Pledge, committing himself to give half of his wealth to philanthropy throughout his lifetime or on his death.
He set up the Musk FoundationMusk Foundation in 2001, which grants grants for development of safe artificial intelligence to benefit humanity, among other things, according to its website.
The foundation has over $200 million in assets.