The mystery of Elon Musk's $14 billion charity fund

The Musk Foundation owns a huge amount of assets, but most of the money flows to related organizations.

The Musk Foundation is now one of the largest charitable foundations in the United States with assets of more than $14 billion.

In 2024, the fund disbursed $474 million, but most of it went to organizations tied to Musk's ecosystem.

More than $370 million was poured into an elementary school in Texas, where many of Musk's employees live.

The fund also transferred $35 million to Fidelity advisory funds, where Musk still retains influence over asset allocation.

The Musk Foundation has failed to meet the statutory minimum spending requirement of 5% of its assets for many years.

The foundation's executive board consists of just three volunteers, who serve an average of a few minutes each week.

In addition to its affiliates, the foundation also provides grants to South Texas communities and several schools.

Despite criticism, Musk asserted that the goal is to “give money away in a way that is actually useful” in the long term.

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Source: https://khoahocdoisong.vn/bi-an-quy-tu-thien-14-ty-usd-cua-elon-musk-post2149073887.html