Elon Musk's $7bn Musk Foundation faces IRS fines for donating only $160m, despite his $5.7bn gift of Tesla shares.
Elon Musk's $7bn charity, the Musk Foundation, has donated only $160m, putting it at risk of massive IRS fines. The foundation failed to give enough for tax breaks despite Musk's $5.7bn gift of Tesla shares in 2021. Despite being the world's second-richest person, Musk's charity donations have primarily been local, including $20m to Cameron County schools and $10m to Brownsville for downtown revitalization.
March 10, 2024
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