Elon Musk Has a Giant Charity. Its Money Stays Close to Home. (2024)

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Elon Musk Has a Giant Charity. Its Money Stays Close to Home. (1)

After making billions in tax-deductible donations to his philanthropy, the owner of Tesla and SpaceX gave away far less than required in some years — and what he did give often supported his own interests.

The Rocket Bar is one of several new nightlife establishments that received funds from the Musk Foundation’s initiative to revitalize downtown Brownsville, Texas.Credit...Meridith Kohut for The New York Times

Before March 2021, Elon Musk’s charitable foundation had never announced any donations to Cameron County, an impoverished region at the southern tip of Texas that is home to his SpaceX launch site and local officials who help regulate it.

Then, at 8:05 one morning that month, a SpaceX rocket blew up, showering the area with a rain of twisted metal.

The Musk Foundation began giving at 9:27 a.m. local time.

Am donating $20M to Cameron County schools & $10M to City of Brownsville for downtown revitalization. Details to follow next week.

— Elon Musk (@elonmusk) March 30, 2021

“Am donating $20M to Cameron County schools & $10M to City of Brownsville for downtown revitalization,” Mr. Musk said on Twitter.

Mr. Musk, the world’s second-richest person according to Forbes, presides over SpaceX, Tesla and other companies that are pushing the boundaries of technology, while also controlling a social media platform, now known as X, through which he promotes his often-polarizing political and social views.

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Elon Musk Has a Giant Charity. Its Money Stays Close to Home. (2024)

FAQs

How many kids does Elon Musk have? ›

Musk wears many different hats, and in addition to the above, he's also a father of 11 children that he's had with three different women. The X owner shares three kids with the musician Grimes, twins with tech executive Shivon Zilis and five children, a set of twins and triplets, with his ex-wife, Justine Wilson.

How is Elon Musk so rich? ›

He is the founder, chairman, CEO, and chief technology officer of SpaceX and the CEO of Tesla, Inc. He is also the owner, chairman and CTO of X Corp., founder of the Boring Company and xAI, and co-founder of Neuralink and OpenAI. Additionally, Musk bought X — formerly Twitter — for a staggering $44 billion in 2022.

What does the Musk foundation do? ›

Purpose and Activities. Giving primarily for renewable energy research and advocacy, human space exploration research and advocacy, pediatric research, science and engineering education, and development of safe artificial intelligence to benefit humanity.

Which companies does Elon Musk own? ›

Elon Musk owns several companies, including Tesla, SpaceX, Neuralink, The Boring Company, and X Corp, among others.

Why does Elon Musk use IVF? ›

They used in vitro fertilization (IVF) to ensure that the children would have his genetic makeup. According to the biography, Musk expressed a desire for intelligent people to have children. Zilis had twins in 2021 at the same time Grimes was expecting their second child.

What is Elon Musk's IQ? ›

Elon Musk's IQ puts him in the Highly Gifted category. IQ tests provide insight into an individual's cognitive ability. As mentioned earlier, Elon Musk's IQ score is believed to be between 155 and 160. Above-average IQ scores within this range are only reserved for the "Highly Gifted" IQ classification.

Who is richer Bill Gates or Elon Musk? ›

Elon Musk is the world's richest man: How much money he has and where Bill Gates and Jeff Bezos stand.

What is Zuckerberg IQ? ›

Einstein IQ: 160+, Bill Gates IQ: 150+, Elon Musk IQ: 155, Zuckerberg IQ: 152, Sunny Doel's IQ: over 160.

What does musk do all day? ›

He spends Mondays and Fridays with SpaceX in Los Angeles and the other five days of the week with either Tesla or Twitter, which are based in San Francisco. Musk prioritizes time management at work with his five-minute interval method.

How many hours a week does musk work? ›

Elon Musk, the CEO of Tesla and Twitter (Now X), is known for his extraordinary work ethic, often clocking in over 120 hours per week. He often shares how he throws himself into work, spending hours and often days in the office to get things right.

Does Elon Musk give anything to charity? ›

The Musk Foundation's massive endowment, largely given by Elon in the form of stocks, makes it the 28th largest charitable foundation in the world, just behind the W.K.

What does Elon Musk drive? ›

In a 2019 tweet, Musk revealed that he does have favorites and mostly drives the Tesla Model S Performance, but occasionally takes to the Model 3 Performance and Model X when he's with his kids. I mostly drive Model S Performance with dev version of FSD computer.

Is Elon Musk a US citizen? ›

Elon Reeve Musk FRS (born June 28, 1971) is a South African-born American businessman. He moved to Canada and later became a U.S. citizen. CEO and Product Architect of Tesla, Inc.

Does Elon own PayPal? ›

In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk—PayPal's largest shareholder with 11.72% of shares—received $175.8 million. In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value".

What is Elon Musk's new son's name? ›

Musk tweeted, later adding: “Mom & baby all good.” When asked to reveal the name of his son, Musk tweeted: “X Æ A-12 Musk.”

What is Elon Musk's net worth today? ›

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