New Delhi: Tesla CEO Elon Musk has donated 268,000 Tesla shares to undisclosed charities, according to a regulatory filing. The donation, made shortly before the new year, is valued at approximately $108.2 million based on Tesla's stock price at the time.This move continues Musk’s tradition of significant year-end charitable contributions. In 2022, he donated Tesla shares worth $1.95 billion, while in 2021, he contributed $5.74 billion to the Musk Foundation, his nonprofit organization.The Securities and Exchange Commission (SEC) filing noted that the shares were given as part of Musk’s “year-end tax planning.” The filing also revealed that the recipient charities, which remain unnamed, currently have no plans to sell the donated stock.Founded in 2001 by Elon Musk and his brother Kimbal Musk, the Musk Foundation supports initiatives such as renewable energy research, human space exploration, pediatric research, science education, and the development of safe artificial intelligence.Despite this latest donation, Musk continues to hold a 12.8 per cent stake in Tesla. His net worth is estimated at $408.3 billion, making him the world’s richest person, according to Forbes.

Meanwhile, Tesla's stock experienced a sharp decline following news of Musk's donation and the company’s first annual sales drop in a decade. On January 2, Tesla shares fell 6.1 per cent, closing at $379.28, amidst a broader market downturn.Tesla’s annual sales in 2024 fell by 1.1 per cent, with 1.79 million vehicles delivered, missing Wall Street expectations. Analysts attribute the decline to increasing competition from Chinese automakers like BYD and a slowdown in global demand.