At the end of 2021, Elon Musk donated the huge sum of 5.7 billion dollars in the form of Tesla shares, causing a worldwide sensation. As the digital magazine “T3N” now reports, the donation probably went to his own charity. This donation to an “unnamed organization” made him the second largest donor in the United States last year after Bill Gates and his ex-wife Melina French Gates.
With his donation, which presumably went to the Musk Foundation, the US entrepreneur could save a considerable amount in taxes. Bob Lord of the Institute for Policy Studies told Tagesschau in February that Elon Musk could save “between 40 and 50 percent of the $5.7 billion in taxes, depending on whether he can offset the deduction against his California income, and he would avoid the capital gains tax”. Earlier this year, Musk hired poker pro Igor Kurganov as an advisor. It is intended to assess potential donation projects and help to donate as effectively as possible.
According to a tax return, the Musk Foundation had $9.4 billion in assets at the end of 2021. Among other things, it promotes the “development of secure artificial intelligence for the benefit of mankind”, a goal that is certainly also associated with Musk’s business interests. Very different from the Bill
In addition to this enormously large individual donation, Musk also gave money to other organizations last year. $160 million went to nonprofits, including $55 million to Memphis-based St. Jude Children’s Research Hospital. The Tesla and Twitter owner also supports school districts and nonprofits in the Brownsville, Texas area, not far from his SpaceX spaceport. However, Space-X also belongs to Musk.
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