Elon Musk gave away $5.7 billion last year. Here’s why he’s not tweeting about it
There’s been some speculation that Musk may seek to align his charitable giving with the goals of “effective altruism,” a philosophical movement that seeks to put charitable efforts toward causes that will have the greatest net benefit for human and animal life. Igor Kurganov, a former pro poker player who Musk brought on board to help manage his charitable giving, is highly involved in the world of effective altruism,. If Musk gave his $5.
People in the philanthropic world who have worked with Musk in the past point out one possible explanation for his secrecy: Though he’s flashy about new Tesla products and SpaceX rockets, Musk just isn’t the world’s biggest self-promoter when it comes to charity.
There may also be practical considerations involved. It’s not all that unusual for the ultra-rich not to reveal where their donated funds are going, notes Scott Walter, president of Capital Research Center, a Washington-based philanthropy watchdog group. “It opens you up to pleadings from charities,” he says. “Let’s say he gives to a charter school. Every other charter school in America is going to be pounding on his door.
“You make one donation and then you’re on 15 mailing lists, and most people hate that,” Walter adds. “Well, when you have as many zeros in your donations as [Musk] does, imagine the relative pleading quotient that’s involved.” Musk’s more recent high profile donations include about $30 million toward school and downtown revitalization in a Texas county near his SpaceX launch facility in South Texas, and $100 million that went toward a prize for projects that would help pull CO2 out of the atmosphere last year. The comically Spartanfeatures little more than a list of charitable goals of supporting renewable energy, space exploration, pediatric health, STEM education and AI that will help humanity.
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