One of the world's most famous billionaires is Elon Musk, known for various inventions, Tesla, and more recently the purchase of a social media platform. He is not just a rich guy, but one of the richest in the world, allowing his presence to be known where he is and what he is involved with.
While he may make large purchases for himself, he has been known to be charitable, having so much money that he can make a difference in the community.
Musk's philosophy is to be a philanthropist, and he has decided to take the success he has had in his own companies and research and give that back to the world through humanitarian and philanthropist efforts. He is not committed to one cause, however, which could leave you asking what does Elon Musk do for charity?
What Does Elon Musk Do For Charity?
With all the funds Elon Musk has accumulated in his career, he has become a prominent philanthropist. He donates his money to charity in various places instead of those he is responsible for creating. Below are the main contributors who receive funds from Elon Musk.
- The Musk Foundation
- The Giving Pledge
- Arbor Day Foundation
- Global Learning XPRIZE
The Musk Foundation
This organization, The Musk Foundation, was created by Elon Musk and his brother to give back and offer grants to organizations related to renewable energy, space exploration, engineering education, artificial intelligence development, and pediatric research. Some of these causes are founded in their own companies, but the organizations and grants are made available to recipients across the world, not just in a single country.
All of these areas are important causes for the Musk family, so being able to give back to over 100 different charities ad organizations related to these areas has been substantial. To date, there is over $50 million alone donated by Elon Musk and his brother into these grants, providing opportunities for research and development that will benefit humanity.
As the face of Tesla, Elon Musk has earned lots of money from this company and the strives it has made in electrical vehicles and renewable energy. In fact, Tesla has recently made lots of strides in solar energy, building batteries that can power homes and large properties with solar panels. The benefits of the Tesla company are now being seen worldwide through their impact on the electric vehicle and in these solar communities.
However, with as much money as he has made, Elon Musk has turned around ad donated a good percentage of it back into the company for investments and continued research to improve the leading electric vehicle and solar energy management. Because of his own personal investment and donation back into the company, the Tesla battery research was able to streamline into a more progressive stage and develop new technologies that will make the use of renewable energy much more affordable and available for people across the globe.
The Giving Pledge
Being able to donate a portion of your wealth at the time of your passing is something that many philanthropists choose to do when they have achieved an excessive amount of wealth over time. The Giving Pledge is an organization where they designate a certain amount of funds to different organizations throughout their life and even when they pass. Elon Musk is a member of that organization, along with a number of other major billionaires who have used this platform as a way to donate.
These funds that are donated are their own and not made on behalf of anyone else. This was originally a US movement of philanthropy, but it has since opened up to members across the world. In order to be accepted into the pledge, your net worth must be at least $1 billion dollars or your pledge equal that much. This group was once a pretty secret organization but has over the last two decades moved to be more transparent and billionaires are open about being members of these organizations.
Arbor Day Foundation
If you live in the US, then you are aware of Arbor Day and have heard of the Arbor Day Foundation. This foundation is designed to protect tree life in the United States and encourages planting trees in the place of those that have been cut down. Being able to restore the planet to a healthy state is something that Elon Musk has publicly advocated for and is why he makes sizable donations to the foundation regularly.
His most recent pledge was $1 Million dollars when the fundraising was $1 per tree. In the end, he didn't have the largest contribution, but the annual goal for the fundraising was exceeded ad the foundation had over 22 million trees planted throughout the world to help restore natural balance.
Global Learning XPRIZE
The goal of Global Learning XPRIZE is to bring premium education options to children throughout the world. Through sponsorships and donations, this organization is able to provide the appropriate tools of software and technology so that these children in remote areas have access to learning and gain an education, even in cases where they are having to teach themselves. In just over a year, the program allows these students the basic skills of reading, writing, and basic arithmetic so that they can move forward to different educational levels later.
If you are wondering how this affects Elon Musk, well he gave a generous $15 million donation so that the organization could expand its reach and offer this program in much more areas than they anticipated for that year. Musk has continued to be a benefactor to this organization as the results are very successful and the goal to reach children everywhere so that they can have basic reading, writing and math skills are critical.
While Elon Musk has made significant donations to the organizations mentioned above, he does pretty regularly make contributions to smaller organizations to help them get their organizations growing and make significant progress. Many of these contributions are for organizations in South Africa, where Musk is from, and also throughout the United States in cities, counties, and even at the state level.
In 2018, he pledged money to help the people of Flint with the ongoing water issue that they have suffered with for many decades. He was responsible for providing the students in the area with clean water filtration systems and water fountains, so they had a place to enjoy clean water when they needed it. This was a great start in working towards solving the water problem that has haunted Flint for many years and is now seen lots of progress since that time.
Elon Musk also donates regularly to his alma mater, the University of Pennsylvania where he studied both business and physics. While this isn't one of the largest donations he makes each year, he does provide a substantial donation to the University along with other alumni. His donations have been giving back to those programs in which he studied and earned his degree.
Another donation he made to assist a small Colorado non-profit was the Kitchen Community which worked to give children in the state access to meals that were healthy and nutritious. One of the goals was to generate school gardens that the students were able to maintain and enjoy the fruits of during their lunches. Because of his initial donation, this organization was able to build its organization and improve its outreach to more schools across the state.
Moving Forward With New Donations
If someone asks, "What does Elon Musk do for charity?" the answer is simple - A lot. According to Forbes, Musk has promised to donate at least half of his fortune to charitable causes throughout his lifespan and even after. Based on what he has currently donated, it is safe to say that he is giving pretty close to half of his earnings away in some form of charitable donation each year.
Even after adding up the major donations that he makes to his own charity and others in large sums, you have to account for the different donations that he has made in smaller areas. You can expect to see more donations over the years coming from Elon Musk, who is looking to add more funds into his areas of preferred research and smaller charities to help them get started.
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Written by Liz Flynn
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