Elon Musk, it seems, finally became a generous on the scale of his billionaires Electric cars and mogul space talented $ 5.7 billion from Tesla Inc. Stock for charity in the 10-day range in November – many times more than he gave through his eponymous foundation in two decades since it was founded. Where the donation occurs is a mystery, but it’s only one signal again that the richest person in the world uses philanthropy more seriously.
The decision by Musk, 50, to contribute more than 5 million shares in electric car makers was disclosed in submitting Monday night regulations, and came on the heel of some of its biggest philanthropic commitments – although no one approached the billions of dollars. It will also help reduce what he called the biggest tax bill in history A.S The Musk Foundation in recent years has made a grant of eight images to the city and a local school system near the South Texas Spaceport, the competition is ready to use $ 100 million to fight climate change and millions of dollars for a pair of Covid-19 researchers.
Almost all the recipients, especially working with Igor Kurganov, a professional poker player – turned with generous, who recently signed up to stay in touch with grantees and consider their proposal Kurganov, who has won more than $ 18 million during its poker career, is active in a world called effective altruism, philanthropic and philosophical movements that try to have the biggest impact by spending a lot of problems solving problems. Kurganov is one of the founders of maintenance for effective administration, an organization made by a group of poker players who recommend “very cost-effective charity.” He is also an advisor for the foundation of thought, a project by an effective altruism center.
Calls and emails to Kurganov have not been returned. Jared Birchall, Managing Director of the Musk Family Office, and Aaron Beckman, Senior Tesla Manager from the Stock Administration, did not respond to a comment request If the Musk Foundation turned to effective altruism, it hasn’t shown, said Alixandra Barasch, a partner’s marketing professor in the New York University who has conducted research on the movement.
Musk does not regularly publish prizes and tax documents that provide these disclosures have a delay for years. Musk what has been distributed recently included $ 10 million to Brownsville, Texas, near where SpaceX is located, to revitalize the city center. So far, the money has gone to a grant program for local property owners, lighting projects and murals Saving life is the main focus of effective altruism, and “murals do not do that much in a measured and defined way in movement,” Barasch said.
Another gift from Musk, such as $ 20 million for Cameron District School, a $ 100 million commitment for the XPRIZE carbon removal competition and $ 5 million for the Khan Academy, also has no focus that effective altruism is usually, said Barasch. But the scale is also a factor, he said, and if the Musk Foundation is influenced by philosophy, the gift can increase significantly Seeing that number I like, ‘Moly Holy, there are millions of dollars, it’s a lot of money,'” said Barasch. But “it’s nothing compared to what he value.”
Musk has a personal wealth of $ 227 billion, according to the Bloomberg billionaire index. Tesla’s $ 5.7 billion stock donation could be a sign that he took the steps of his gift – but that also didn’t mean he really sent a lot of charity The prize might go to the Musk Foundation, said Brian Mittendorf, a professor of Ohio State University who studied non-profit organizations. Given the use of funds suggested Donor Musk before, or DAF, the community might never know where much money happened unless he chose to share it on the Twitter website or the Musk Foundation, he Sai Sai
Guess ‘game’
“We should not have to play this guess game,” Benjamin Soskis said, senior research partner in the middle of a non-profit organization and philanthropy at the Urban Institute. “This is a matter of public interest where the money occurs because the scale is very large Fover Gifting November Musk came around the time he argued with politicians on Twitter about his tax. Great prizes for charity will help reduce what is payable to the government. The days before he completed a series of sales of shares worth more than $ 16 billion – a lot to include the exercise of almost 23 million choices – Tesla’s chief executive tweeted he would pay taxes of more than $ 11 billion for this year.
In the weeks before the prize, Musk also suggested he would sell shares if the United Nations was proven $ 6 billion, it would help complete the hunger of the world, after the head of the World Food Program organization called for billionaires like Musk to “rise. Musk’s tingling to become provocative and the announcement of a large prize has made it difficult for the public to find out what his intentions are. What is called Kurganov and a $ 5.7 billion prize which actually means for the future philanthropic musk is a mystery, said Soskis “Your guess is as good as mine,” said Soskis about where the musk gift might end. “If you see what he does, no pattern is visible.”