Elon Musk donates $5.7 billion in Tesla stock to charity

Musk’s recent philanthropic gesture is nothing new in the billionaire club. Although there are differences between the different methods. In 2021, according to Forbes, Musk and Amazon founder Jeff Bezos donated less than 1% of their net worth, while Warren Buffett and George Soros donated more than 20% of their net worth.

Musk Foundation

In 2001, Elon Musk founded the Musk Foundation, which provides grants for the “development of safe artificial intelligence for the benefit of humanity.” The Musk Foundation has more than $200 million in assets today.

Earlier last year, Musk and his foundation offered $100 million in prizes to anyone who could propose technology to help remove carbon from the atmosphere.

It said last year it would donate $20 million to schools in Cameron County, Texas, where the SpaceX launch site is located, and $10 million to the city of Brownsville.

And again: In response to an appeal for donations launched by David Beasley, Executive Director of the World Food Programme, Musk tweeted: “If (UN World Food Program, editor) prescribes…exactly $6 billion will solve world hunger, I will sell Tesla shares Now I will do it.”