Elon Musk gave nearly all of his donations to these two nonprofits last year
Elon Musk gave nearly all of his donations to these two specific nonprofits last year.
The multi billionaire is the richest man on Earth and his wealth recently became historic as he is now the first person to ever be worth more than $400 billion.
It’s expected that Musk will become the world’s first ever trillionaire by around 2027.
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So, where does the richest person donate his money?
The Musk Foundation gave away $237 million in grants in 2023 alone.
While that might sound like a lot, for the foundation it’s pocket change considering it has assets worth $9.45 billion.
So, which nonprofits benefited from the giveaways?
It might be no surprise to find out that the largest donation went to The Foundation, which is a new nonprofit set up by Musk himself.
Its intent is to build a K-12 school in Austin, Texas, with the hopes of eventually building a university.
Musk gave $137 million in order to benefit ‘school operations and programs’.
The second largest donation went to the X Prize Foundation, who received $54 million.
This nonprofit holds competitions based around technological development.
Musk’s donation in particular will go towards a competition involving carbon renewal.
Other donations from the tech mogul included $25 million to a donor-advised fund managed by Fidelity Charitable.
Hack Foundation, which provides funding to coding education in high schools across the US, received $4 million.
The Los Fresnos Independent School District was given $2.2 million to support educational programs within the district.
GiveDirectly offers financial support to families that are living in poverty, giving cash grants to families in need and they also received $2.2 million from Musk.
A nonprofit that supports computer science programs in schools, Code.org, was awarded $2 million.
Another Texas school district, Brownsville Independent School District, was also a recipient, receiving $1.75 million.
Doctors Without Borders was given $1 million and a third school district, Harlingen Independent School District, was awarded $997,000.
In other Musk news, the SpaceX CEO is set to be involved in the incoming Trump administration after being appointed as the head of the new Department of Government Efficiency (DOGE).
While not technically a governmental department, Musk has said that DOGE will work as an outside advisor on ways to cut federal spending.
The Tesla boss has already promised to slash trillions from the federal budget.
Trump went on to say that DOGE will conduct a ‘complete financial and performance audit of the entire federal government, and making recommendations for drastic reforms’.