Elon Musk's Foundation Grows to $14B, Gives Mostly to Connected Charities

Elon Musk's charity, the Musk Foundation, has grown to be one of the largest in the country with $14 billion in assets.

In 2024, it gave away $474 million, but most of this money went to charities that are closely connected to Musk.

For example, $370 million went to a school near Musk's businesses in Texas.

The foundation also gave $35 million to a fund managed by Fidelity, where Musk still has some control.

The foundation has not met the legal requirement to give away 5% of its assets each year for the past four years.

Musk has said that giving away money effectively is challenging, and he prefers to keep his philanthropy low-profile.