EGN NEWS DESK
“The actually putting factor about Musk is the disjuncture between his outsized public persona, and his very, very minimal philanthropic presence,” mentioned Benjamin Soskis, who research philanthropy on the Urban Institute. Where different billionaires have aimed for a broad influence on society, Mr. Soskis mentioned Mr. Musk’s basis lacks “any path or any actual focus, exterior his enterprise ventures.”
Mr. Musk didn’t reply to requests for remark.
A college for his kids
Mr. Musk and his youthful brother, Kimbal, began the Musk Foundation in 2001, a yr earlier than the sale of PayPal, the net funds firm he co-founded, to eBay for $1.5 billion. He made greater than $175 million within the sale, and would seed his namesake basis with about $2 million price of eBay shares.
The Musk Foundation’s web site initially included slick animations, that includes photos of satellite tv for pc dishes and kids in school rooms, whereas encouraging individuals to use for grants. By 2005, nevertheless, it was cleaned, changed by plain black textual content stating that the inspiration was thinking about “science training, pediatric well being and clear power.”
It listed no contact data. It nonetheless doesn’t.
By September 2014, Forbes estimated that Mr. Musk’s internet price was greater than $10 billion, pushed up by the worth of his holdings of Tesla inventory. But he gave little to his personal charity. That yr, tax filings present, his basis had $40,121 within the financial institution.
That match with Mr. Musk’s public stance on philanthropy. His for-profit firms, he mentioned, have been his method of fixing the world.
