Return of Organization Exempt from Income Tax (Form 990). View on IPFS. The Musk Foundation supports organizations which push a left-of-center agenda, particularly environmentalist organizations. “Musk Foundation: Grants.” Citizen Audit. (Non-profit), Sierra Club Foundation (Non-profit). Tesla is building a factory in East Austin for its Cybertruck electric pickup and the Model Y sport-utility vehicle. Return of Organization Exempt from Income Tax (Form 990-PF). In 2013, Musk unveiled plans for a version of a vactrain, assigning a dozen engineers from Tesla and SpaceX to establish the conceptual foundations and create initial designs. The Musk Foundation’s small board of directors includes Musk and his long-time associate Jared Birchall, a former senior vice president at Morgan Stanley. The Musk Foundation has a bare-bones website and keeps a low profile. SpaceX has an engine-testing site in McGregor and a rocket-production facility in Boca Chica, on Texas’s Gulf Coast near the Mexican border. Topline. Return of Organization Exempt from Income Tax (Form 990-PF). 2015. [6] Drew Millard of the Outline wrote in 2018 that the timing of the donation allowed Musk to avoid taxes and to avoid ceding shares to his second wife, who filed for divorce in the spring of 2016. Accessed May 30, 2018. “Flint students getting laptops thanks to Musk Foundation,.” December 21, 2018. Elon Musk has moved his private foundation to Austin, Texas -- another sign the billionaire may be relocating to the Lone Star State. (2021) By buying this NFT you are helping me to send this "Holy Elon Musk Icon" to space! The Associated Press,. Elon Musk is moving his private foundation to Austin, according to a report from Bloomberg news service, the latest evidence that the billionaire may be relocating here. All Rights Reserved. “How Elon Musk’s secretive foundation hands out his billions,.”. The Sierra Club Foundation received $250,000 in 2014. [7], According to its website, the Musk Foundation makes grants in support of four areas: “renewable energy research and advocacy;” “human space exploration research and advocacy;” “pediatric research;” and “science and engineering education.” [8], The Foundation has donated to non-political causes, including $480,000 in grants for water filtration in Flint, Michigan and $424,000 to supply laptop computers to Flint middle-schools. Show full articles without "Continue Reading" button for {0} hours. Musk Foundation (2012), 2012 990,. Acrylic painting on canvas 60x80 cm or 23.6x31.5 in. [3] Charitable recipients of Musk Foundation grants include international aid nonprofits such as Doctors Without Borders, healthcare organizations such as World Spine Care, and the co-educational Mirman School for Gifted Children. “But on the other hand, if a great deal of income is at stake, a prudent taxpayer might want to eliminate all contacts with California as much as possible -- and relocating their foundation might be one of them.”. His brother, Kimbal Musk, is secretary and treasurer. Before PayPal, Mr. Musk co-founded Zip2 Corporation in 1995, a leading provider of enterprise software and services to the media industry, with investments from The New York Times Company, Knight-Ridder, MDV, Softbank and the Hearst Corporation. (Non-profit), Oxfam America Instagram Twitter Discord Blog. Musk’s long relationship with California soured this spring during the first wave of the coronavirus. Save the Children, Search term “abortion.” Accessed February 20, 2019. Elon Musk has become the world's richest person, as his net worth crossed $185bn (£136bn). On August 12, 2013, Musk unveiled the concept which he dubbed the Hyperloop. [24] Their investigation found that the Foundation frequently donated to charities in which Musk’s family and/or his companies have financial and other interests. End the letter with a sign off like "Your fan" or "A concerned consumer." It currently funds projects related to solar power, space exploration, artificial intelligence, advanced technology, and human longevity. A variety of complicated rules determine whether someone is a California resident for tax purposes, said Christopher Manes, an attorney in Palm Springs who specializes in the topic. [22] Nonprofit Quarterly editor-in-chief Ruth McCambridge criticized the donation because of the lack of payout and transparency regulations related to donor-advised fund providers. (Non-profit), National Wildlife Federation [10] [11], Artists for Peace and Justice, which helps disadvantaged people internationally through education, and Haitian Relief Organization—which helped with recovery in Haiti after a tsunami struck that nation—received funding from the Musk Foundation in 2011. “Philanthropic activities tend not to carry much weight,” he said in an e-mail Monday. [18] [19], The Musk Foundation has made small contributions to a handful of right-of-center nonprofits. The foundation, which was based in California, created an entity in Austin over the summer. Elon Musk has moved his private foundation to Austin, Texas — another sign the billionaire may be relocating to the Lone Star State. 1. In 2016, Musk donated 1.2 million shares of Tesla stock, worth $254,614,000 at the time, to the Foundation. Haitian Relief Organization received $61,370. “Elon’s Empire: The Sprawling, Intertwining Web of Elon Musk’s Vested Interests.” WIRED. Accessed May 30, 2018. Elon Musk is big into philanthropy, though it appears that he doesn’t put a lot of money into the website for his foundation The Musk Foundation, which is a private grant-funding foundation, as its only a list of the five areas in which he, and his brother Kimal, donate grants to. Tesla’s stock has soared more than 650% this year, and Musk’s wealth has ballooned to more than $145 billion, making him the world’s second-richest person. Musk disclosed on Twitter that he had Covid-19 himself last month. The Musk Foundation… The total donations made per year range from $175,000 to $600,000. Musk was the largest shareholder of PayPal until the company was acquired by eBay for $1.5 billion in October 2002. “Musk Foundation.” Accessed May 30, 2018. Photographer: Liesa Johannssen-Koppitz/Bloomberg. In 2012, Musk joined billionaires like Michael Bloomberg and Warren Buffett in signing The Giving Pledge, a commitment by some of the world’s richest individuals to give away the majority of their wealth, either during their lifetimes or upon their deaths. Dino Tomic. He and his partner Grimes also had a baby boy earlier this year. Musk became a multimillionaire in his late 20s when he sold his start-up company, Zip2, to … WIRED. http://www.wired.co.uk/article/elon-musk-tesla-spacex-empire, https://www.documentcloud.org/documents/5684176-2015-990.html, https://theoutline.com/post/5707/elon-musk-has-a-quarter-billion-dollars-of-tesla-shares-parked-in-a-non-profit, https://www.apnews.com/0375b52ee079460d8f1bb29799545a8d, https://www.documentcloud.org/documents/5684173-2012-990.html, https://www.documentcloud.org/documents/5684172-2011-990.html, https://www.citizenaudit.org/organization/770587507, https://www.savethechildren.org/us/search-results?googlecse=abortion#gsc.tab=0&gsc.q=abortion&gsc.page=1, https://www.documentcloud.org/documents/5684181-2005-990.html, https://nonprofitquarterly.org/2019/01/31/elon-musks-foundation-gives-37-8m-to-donor-advised-fund/, https://www.theguardian.com/technology/2019/jan/23/how-elon-musks-secretive-foundation-benefits-his-own-family, Bill, Hillary, and Chelsea Clinton Foundation View on Etherscan. That’s where Starship -- the vehicle SpaceX hopes will ferry human beings to Mars -- is being tested, including a high-altitude test Tuesday. The Tesla and SpaceX entrepreneur was pushed into the top slot after Tesla's share price increased on Thursday. “How Elon Musk’s secretive foundation hands out his billions.”, Mark Harris,. [23], The left-leaning newspaper the Guardian conducted a thorough examination of the Foundation’s donations in a January 2019 profile. Musk Foundation, 2011 990, Accessed February 20, 2019. Besides his own foundation, Musk has joined other rich luminaries in signing the Giving Pledge, a commitment to donate the majority of their wealth to philanthropy or charitable causes. Musk, 49, is the chief executive officer of Tesla, headquartered in Palo Alto, California, and SpaceX, based in Hawthorne, near Los Angeles. [14] Other recipients of Musk Foundation grants include the National Wildlife Federation; the funding and fiscal sponsorship group New Venture Fund; Energy Foundation; Oxfam America; Oceana; the BlueGreen Alliance Foundation; the Tides Center; and Natural Resources Defense Council (NRDC). Furthermore, Musk’s tweets have been one of the main factors of the coin’s rise by 6,000% over the last six years. Formed in 2001, it is dedicated to renewable energy and advocacy, human space exploration, pediatric research, science and engineering education, and research and development into “safe artificial intelligence to benefit humanity.” It has awarded grants to a variety of organizations, including the SETI Institute, which seeks evidence of life on other planets, and the Chabot Space & Science Center in Oakland, California. August 5, 2018. Elon Musk has committed to The Giving Pledge, and has pledged to give away at least half of his wealth to philanthropy Hide Established in 2001 in CA - Founded by Elon Musk, who is co-founder of PayPal, SpaceX and Tesla Motors. He briefly sued the county and threatened to move Tesla’s Palo Alto headquarters to Texas or Nevada. The organisation was founded by Elon along with his brother Kimbel Musk in 2002. Drew Millard. [15] [16] [17], Other explicitly left-wing organizations which have received funding are the William J. Clinton Foundation, People for the American Way Foundation, and Transgender Law Center. [4], Tesla and SpaceX CEO Elon Musk is the sole funder of the Musk Foundation, and has donated at least $257 million to the organization. (Non-profit), Global Green USA Then, outline your concerns, ideas, or thoughts in short paragraphs. [26]. June 07, 2017. Artwork information. All received funding in 2011 totaling $19,200, $7,200, and $2,500, respectively. The article clarified that none of the payments were illegal, and cited charity experts who said that many were within charitable norms. The return showed a $2 million gift to the Future of Life Institute in the Boston area, which focuses on “keeping artificial intelligence beneficial.”. Tesla CEO Elon Musk has moved his private Musk Foundation to Austin, further fueling rumors that he is planning a move to the Lone Star State.The California-based foundation created an entity in the Texas capital over the summer, Bloomberg reported Monday. Mark Harris. [5], In 2016, Musk donated 1.2 million shares of Tesla stock, worth $254,614,000 at the time, to the Foundation. [12] [13]. Tesla CEO Elon Musk has shut down his private foundation’s operations in California and moved them to Texas, according to a media … Texas is already Tesla’s third-biggest U.S. market, even though years of opposition from auto dealers mean it can’t sell cars there directly. Musk Foundation. Expenses: $582,908 Elon Reeve Musk is a South African-born American entrepreneur and businessman who founded X.com in 1999 (which later became PayPal), SpaceX in 2002 and Tesla Motors in 2003. Musk – who controls Tesla, SpaceX and The Boring Company – is worth an estimated $22bn, although almost all his wealth is tied up in his own companies. As a teenage boy, Elon Musk felt a "personal obligation" for the fate of mankind, according to the book "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future" by Ashlee Vance. Write a letter to Musk explaining your concerns or ideas.
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