Elon Musk’s charitable foundation, seeded with tax-deductible donations of stock worth more than $7 billion since 2020, is one of the largest in the country. However, its philanthropy has been largely self-serving, making Musk eligible for enormous tax breaks and benefiting his businesses. The foundation has failed to give away the bare minimum required by law, exposing it to the risk of substantial financial penalties. Despite having billions, the foundation has no staff and is managed by Musk and two volunteers. In 2022, they gave away $160 million, which was $234 million less than the law required.
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