Elon Musk made waves in 2021 when he donated $5.7 billion in Tesla stock, marking one of the largest charitable contributions ever made by an automotive industry leader. This donation significantly increased the financial power of the Musk Foundation, making it one of the largest philanthropic organizations in the United States.
According to Bloomberg News, the recipient of the donation was Musk’s own foundation. Tax filings show that by the end of 2021, the Musk Foundation’s assets had grown to $9.4 billion. That same year, the foundation distributed $160 million in donations, with major contributions including $55 million to St. Jude Children’s Research Hospital and $54 million to the XPrize Foundation. Musk also honored his previous pledges by donating to school districts and nonprofits in Brownsville, Texas, near his SpaceX facility.
With an estimated fortune of $167.6 billion, Musk ranked as one of the top philanthropists of 2021. The Chronicle of Philanthropy listed him as the second-largest donor that year, following the $15 billion contributed by Bill Gates and Melinda French Gates.
