Posted 3/11/2024, 4:48:00 PM
Musk's Charity Faces Scrutiny Over Donation Shortfalls and Potential Conflicts of Interest
- Musk's charity failed to meet minimum donation threshold required by tax laws in 2021 and 2022, facing potential 30% penalty tax
- Charity received over $7B in assets after Musk donated $5.7B in Tesla shares in 2021 to offset his own $11B tax bill
- Charity donations indirectly benefited Musk's business interests, like $5M to UN internet access program that led to Starlink deals
- Charity paid $55M to hospital at request of man who booked SpaceX rocket trip, pledged more flights after Musk donated
- Charity set aside funds for school with few students, half being kids of SpaceX employees, and donated $10M to OpenAI co-founded by Musk