Benjamin Soskis, a philanthropy researcher at the Urban Institute, noted the stark difference between Elon Musk’s public image and his lack of philanthropic efforts. While many other billionaires strive to make a significant impact on society, Soskis pointed out that Musk’s foundation lacks clear direction or focus beyond his business ventures.
Elon Musk did not respond to requests for comment.
A school for his children
Musk and his brother Kimbal established the Musk Foundation in 2001, just before the sale of PayPal to eBay for $1.5 billion. With over $175 million from the sale, Musk funded his foundation with roughly $2 million worth of eBay shares.
Initially showcasing images of satellite dishes and students in classrooms on its website, the Musk Foundation shifted focus in 2005 to prioritize science education, pediatric health, and clean energy, although the site lacked contact information then and still does today.
Despite Forbes estimating Musk’s net worth at over $10 billion in 2014, driven by Tesla stock holdings, he contributed little to his foundation, as tax filings revealed only $40,121 in the foundation’s account that year.
Musk has been vocal about using his for-profit ventures as his primary means of driving change in the world.
