Where Billionaires, Celebrities, and the NFL Go When They Want to Support Vets philanthropy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philanthropy.com Daily Mail and Mail on Sunday newspapers.
Elon Musk has a giant charity. Its money stays close to home seattletimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seattletimes.com Daily Mail and Mail on Sunday newspapers.
Musk, the world s second-richest person, according to Forbes, presides over SpaceX, Tesla and other companies that are pushing the boundaries of technology, while also controlling a social media platform, now known as X, formerly Twitter, through which he promotes his often-polarizing political and social views.
It gave away less than half of what it needed to for Musk to qualify for the tax break in 2022, and much of that went to employees, businesses and projects that he is personally associated with.
The Musk foundation that houses the money has failed in recent years to give away the bare minimum required by law to justify the tax break, exposing it to the risk of having to pay the government a substantial financial penalty.