After making billions in #TaxDeductible donations to his philanthropy, the owner of #Tesla & SpaceX gave away far less than required in some yrs— & what he did give often supported his #SelfInterests.
Before Mar 2021, #ElonMusk’s charitable foundation never announced any donations to CameronCounty, an impoverished region at the southern tip of TX that is home to his #SpaceX launch site & local ofcls who help regulate it.
Since 2020, #ElonMusk has seeded his #charity w/ #TaxDeductible donations of stock worth >$7B at the time, making it one of the largest in the country.
The foundation that houses the money has failed in recent years to give away the bare minimum required by #law to justify the tax break, exposing it to the risk of having to pay the government a substantial financial #penalty.
#ElonMusk is under no obligation to have a #charity, & he has made clear that he believes his #ForProfit enterprises will change the world for the better far more than any #philanthropic venture could. But once he set up a #nonprofit & filled it w/ #TaxDeductible gifts, he was required by #law to ensure that his foundation served the public, & that it did not operate for the “private benefit” of its leader.