Elon Musk donated nearly $100 million worth of Tesla shares to undisclosed charities as part of year-end tax planning, according to a newly released SEC filing.
The filing shows that Musk transferred roughly 210,000 Tesla shares on Tuesday. While the recipients were not named, the charities indicated they have no immediate plans to sell the stock. Musk and Tesla did not respond to requests for comment.
The donation represents a small fraction of Musk’s estimated $619 billion net worth, according to the Bloomberg Billionaires Index. The move comes as the Tesla CEO continues efforts to increase his voting control over the company.
Musk has repeatedly said he needs at least 25% of Tesla’s voting power to comfortably expand the company’s AI and robotics initiatives, warning that he does not want to build a “robot army” if he could be removed as CEO.
That goal may be supported by a shareholder-approved compensation package passed in November, which could significantly raise Musk’s ownership stake if Tesla meets a series of long-term financial and product targets.
The donation also comes ahead of a critical week for Tesla, which is expected to release annual sales figures amid forecasts of a second consecutive yearly decline, despite the company’s stock reaching record highs driven by optimism around its robotaxi ambitions.