Elon Musk, the world’s richest person, has shared his views on charity and philanthropy, describing the art of giving as “very difficult” and full of challenges.
In an interview with Zerodha co-founder Nikhil Kamath on his WTF Podcast, Musk said that while philanthropy is necessary to help others, it’s not an easy job.
He was responding to a question from Nikhil Kamath who asked about his views on philanthropy and charity.
“I think we should. I agree with the love of humanity and we should definitely try to do things that help our fellow man. But it’s very difficult,” he said on the WTF Podcast, which was posted on YouTube on Sunday.
The CEO of Tesla, whose net worth has been hovering above $400 billion for some time now, explained why it’s challenging to give money away in real life.
“If you’re concerned with the reality of good rather than the mere perception of it, it’s extremely difficult to give money well,” he said.
Musk reveals philanthropy’s biggest challenge
Speaking about Musk’s foundation, the Tesla CEO told Nikhil Kamath on the WTF Podcast that the biggest challenge for charity is giving money away in a way that really benefits people.
“I have a big foundation, but I don’t put my name on it. In fact, I said I don’t want my name on anything. The biggest challenge I find with the foundation is trying to give money away in a way that really benefits people,” said Elon Musk.
“It is very easy to give money in a way that creates the appearance of good. It is very difficult – extremely difficult – to give money for the reality of good,” he added.
Musk has also been skeptical of donating money in the past.
“I think if you care about the reality of good instead of the perception of it, philanthropy is extremely difficult,” Chris Anderson said in 2022.
How much does Elon Musk donate to charity?
According to a Bloomberg report from November of this year, Elon Musk donated a record $474 million to charity in 2024. The vast majority of donations went to entities controlled by him.
About $370 million in funds from the Musk Foundation, Elon Musk’s charity, went to the Foundation, a nonprofit founded by the Tesla CEO to establish a STEM-focused elementary and middle school, according to tax returns cited by Bloomberg.
The donor-advised Fidelity Charitable Fund received another $35 million, while the remaining money went to a number of other nonprofits, including groups working in areas such as health, disaster relief and education.
