“The actually placing factor about Musk is the disjuncture between his outsized public persona, and his very, very minimal philanthropic presence,” stated Benjamin Soskis, who research philanthropy on the City Institute. The place different billionaires have aimed for a broad impression on society, Mr. Soskis stated Mr. Musk’s basis lacks “any route 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 Basis in 2001, a 12 months 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 value of eBay shares.
The Musk Basis’s web site initially included slick animations, that includes photos of satellite tv for pc dishes and youngsters in lecture rooms, whereas encouraging folks to use for grants. By 2005, nonetheless, it was cleaned, changed by plain black text stating that the muse was taken with “science training, pediatric well being and clear power.”
It listed no contact info. It nonetheless does not.
By September 2014, Forbes estimated that Mr. Musk’s web value was greater than $10 billion, pushed up by the worth of his holdings of Tesla inventory. However he gave little to his personal charity. That 12 months, 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 stated, had been his means of fixing the world.
