Publicly announcing multi-billion-dollar gifts is a 'fundamental matter of public interest,' says one observer.
Elon Musk will happily broadcast a few choice words about U.S. senators, but he’s quieter when it comes to his philanthropy. There’s a good chance the public may never know which charity or charities benefited from the approximately $5.7 billion in Tesla TSLA stock Musk donated in 2021.
Musk — who signed the Giving Pledge in 2012, promising to give away most of his wealth — doesn’t send out press releases announcing his donations, though he occasionally tweets about them. Tesla doesn’t typically respond to press inquiries , and there’s no contact information listed on Musk’s foundation’s bare-bones website. The Tesla stock donation was revealed in an SEC filing Monday that described the donated shares as a gift “to charity,” but didn’t specify which one.
“Come on. There has to be a middle-ground [between] preening, self-congratulatory mega-giving & complete non-disclosure,” wrote philanthropy historian Ben Soskis on Twitter TWTR in response to the lack of information on Musk’s stock donation. “If not, we’re gonna need a pretty radical overhaul of our [regulations] relating to individual giving & anonymity.”
Why the recipients of Musk stock donation could easily stay secret There are several other scenarios where the recipients of Musk’s largesse would never be revealed. Musk may have put the money into a donor-advised fund at Fidelity Charitable. DAFs, a type of charitable giving account, function as middlemen. They hold money the donor has earmarked for charity and then distribute it to nonprofits chosen by the donor.
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