Tesla Inc TSLA CEO Elon Musk gave away $1.95 billion worth of stock in the automaker to charity, according to a filing with the Securities and Exchange Commission.

What happened: The Tesla CEO donated nearly 11.6 million shares of the automaker’s stock between August and December 2022, according to the SEC filing. Following the donation, Musk now owns nearly 13% of Tesla.

Last year, Musk $5.57 billion donated Value of shares for charity.

See also: How to Buy Electric Vehicle (EV) Stocks.

Why it matters: In 2021, Musk responded to a World Food Program of the United Nations (WFP) tweeted that he was willing to sell $6 million worth of stock if the agency could show a roadmap on how it would use the money to fight world hunger.

In 2002, Musk launched his Musk Foundation with his brother Kimbal. The organization donates to causes related to renewable energy, pediatrics, space exploration and artificial intelligence, according to its succinct website.

Last year he said his foundation plans to do this donate directly to families after realizing the dangers related to the depopulation of the planet.

Musk is a signatory to the “Giving Pledge” — a commitment by the super-rich to donate the majority of their wealth to “tackle society’s most pressing problems.”

Price promotion: On Tuesday, Tesla shares closed up 7.5% in the regular session at $209.25 and was up 1.1% in after-hours trading at $211.53 Data from Benzinga Pro.

Continue reading: Bill Gates attacks Elon Musk and says: “Don’t go to Mars, spend money on it instead.”

photo by Steve Jurvetson on Flickr