April 21, 2024

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Elon Musk has a giant charitable foundation.  Her money stays close to home.

Elon Musk has a giant charitable foundation. Her money stays close to home.

“The really striking thing about Musk is the disconnect between his huge public persona and his very low-key philanthropic presence,” he said. Benjamin SoskisWho teaches philanthropy at the Urban Institute. While other billionaires aim to make a broad impact on society, Mr. Soskis said Mr. Musk's foundation lacks “any direction or any real focus, outside of his business ventures.”

Mr. Musk did not respond to requests for comment.

Mr. Musk and his younger brother, Kimbal, established the Musk Foundation in 2001, a year before PayPal, the online payments company he co-founded, was sold to eBay for $1.5 billion. He made more than $175 million from the sale, and will found his namesake foundation with about $2 million in eBay stock.

The Musk Foundation website initially included cute animations, showing images of satellite dishes and children in classrooms, while encouraging people to apply for grants. However, by 2005, it had been completely erased and replaced by Plain black text Pointing out that the foundation is interested in “science education, children’s health, and clean energy.”

No contact information is listed. still no.

By September 2014, Forbes It has been estimated that Mr. Musk's net worth is more than $10 billion, driven by the value of his holdings in Tesla stock. But he gave little to his charitable work. That year, tax returns showed his foundation did just that $40,121 in the bank.

That fits with Mr. Musk's general stance on philanthropy. He said his for-profit companies were his way of changing the world.

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