Elon Musk gave away Tesla Inc (NASDAQ:TSLA) shares worth $5.57 billion to charity last year, regulatory filings showed on Monday.

What Happened: The 5 million shares were donated between Nov. 19 and Nov. 29 and represented a “bona fide gift” to charity, the filing said, without revealing the recipient’s details.

The donation took place around the same time last year as when the world’s richest person was executing a series of stock sales.

Musk lowered his stake in Tesla by 10% in the fourth quarter through a series of share sales worth more than $16 billion. The billionaire entrepreneur does not receive a salary and is compensated through a stock options plan. 

Why It Matters:  Tesla stock secured multiple milestones in the final quarter of 2021, including joining the elite club of companies with the $1 trillion market cap on Oct. 25.

Tesla stock was trading between $1,063 and $1,156.87 when the donation was executed.

See Also: Elon Musk Says Twitter Poll Had No Impact On Tesla Stock Sale

A United Nations World Food Programme (WFP) tweet had last year sought a one-time donation from the top 400 billionaires in the U.S. to help save the lives of 42 million people.

Musk had then responded to the tweet saying he is ready to sell $6 billion worth of shares if WFP could provide a detailed roadmap on how the money would solve world hunger.

Price Action: Tesla shares closed 1.8% higher at $875.7 a share on Monday.

Photo: Courtesy of Nvidia Corp. via Flickr