Elon Musk made headlines in 2021 when he donated $5.7 billion worth of Tesla stock to charity. This massive contribution, the largest ever made by a car company owner, significantly boosted the assets of the Musk Foundation, making it one of the largest charitable organizations in the United States.
According to Bloomberg News, the recipient of this generous donation was none other than Musk’s own foundation. Tax records revealed that by the end of 2021, the Musk Foundation held assets totaling $9.4 billion. The foundation distributed $160 million to various nonprofit organizations, including $55 million to St. Jude Children’s Research Hospital and $54 million to the XPrize Foundation. Additional funds were allocated to school districts and nonprofits in Brownsville, Texas, where Musk’s SpaceX operations are based.
With an estimated personal fortune of $167.6 billion, Musk’s charitable contributions made him one of the biggest philanthropists of the year. The Chronicle of Philanthropy ranked him as the second-largest donor in 2021, following the $15 billion donated by Bill Gates and Melinda French Gates.
