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E. Musk gave Tesla shares worth 5.7 billion to charity

One of the richest people in the world, Elon Musk, used to be called a philanthropist. But only now does he seem to be taking philanthropy more seriously. Bloomberg brought the messagethat a mogul doing business in the field of electric cars and space tourism donated Tesla shares worth $ 5.7 billion to charity within 10 days in November. It is many times more than he has distributed through his eponymous foundation in the two decades since its founding.

E. Musek’s 50-year-old decision to donate more than five million shares of his company was announced on Monday evening, February 14.

So far, “only” eight-digit amounts

In recent years, the Musk Foundation has provided eight-digit sums to the city of Brownsville and the local school system near its South Texas spaceport, competed for $ 100 million in the fight against climate change, and millions of dollars. gave a pair of covid-19 researchers.

Almost all of these recipients worked primarily with Igor Kurgan, a professional poker player who also became a philanthropist. E. Musk recently recruited him to keep in touch with grant recipients and consider their proposals.

I. Kurganov is a co-founder of Raising for Effective Giving, an organization formed by a group of poker players that recommends “highly effective charities.”

Jared Birchall, executive director of Muska’s family office, and Aaron Beckman, chief executive officer of Tesla’s stock management, did not respond to requests for comment. E. Musk is not used to publicizing his giftshis tax documents are also several years late.

A lot or a little?

Alixandra Barasch, an associate professor of marketing at New York University, commented on Muskov’s latest gift, saying, “Looking at those amounts, I think, ‘It’s millions of dollars, it’s a lot of money.'” compared to its value (property, editor’s note). “

According to the Bloomberg Billionaires Index, the personal property of E. Muska has reached $ 227 billion so far. A donation of $ 5.7 billion in Tesla shares could be a sign that it is accelerating the pace of donations – but that doesn’t mean he’s actually sent a lot to charity.

The latest donation was probably received by the Musk Foundation, said Brian Mittendorf, a professor at Ohio State University who studies nonprofits. But the public will probably never know where most of the money goes unless the billionaire decides to share this information on social media.

Musk’s November gift came at a time when he was arguing with politicians about paying taxes. Tesla’s CEO said on Twitter that he would pay more than $ 11 billion in taxes this year.


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