Elon Musk donates nearly $2bn of Tesla stocks to charity.

 Elon Musk donates nearly $2bn of Tesla stocks to charity.

Elon Musk, CEO of Tesla, claims to have donated approximately $1.95 billion (£1.6 billion) in Tesla stock to charity last year.

The donation of 11.6 million shares was described as a "bona fide gift" in a filing with US regulators.

The donation's recipient or recipients were not named in the filing.

Also on Wednesday, Mr. Musk stated that the end of the year would be a "good time" to find someone to succeed him as CEO of Twitter.

The donation was made between August and December of last year, according to the document filed with the US Securities and Exchange Commission.

Tesla did not immediately respond to a request for comment from the BBC.

This is not Mr Musk's first time donating Tesla stock to charity. According to a regulatory filing, he donated approximately $5.74 billion in shares in 2021.

He also said on Twitter that year, that he planned to donate $20m to schools in Cameron County and $10m to the city of Brownsville in Texas for "downtown revitalization".

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Mr Musk has also hinted that he plans to find his successor as CEO of Twitter by the end of 2023.

"I'm guessing probably towards the end of this year would be good timing to find someone else to run the company," he said.

"I think I just need to stabilise the organisation and make sure it's financially healthy and the product roadmap is clearly laid out," he said via video link from the World Government Summit in Dubai.

Last year, the multibillionaire businessman paid $44 billion for the social media platform. He later stated that the company was on the verge of going bankrupt.

Some Tesla investors, however, have criticised him for devoting too much of his time to trying to turn around Twitter.

Mr Musk stated in November, while speaking at the G20 Summit in Bali, Indonesia, that he works too much because he juggles his responsibilities at Twitter, Tesla, and his rocket company SpaceX.

"My workload has recently increased significantly," Mr Musk explained. "I definitely have too much work on my plate," he added.