Musk's charitable donations are lower than those of the average American

Elon Musk is the richest man in the world and the first person ever to be worth more than $400 billion, but he is not considered a great philanthropist. While his Musk Foundation did give out $237 million in grants in 2023, according to the latest tax filings, this is far less than the largest American donors such as MacKenzie Scott, and less than the amount the IRS requires his foundation to give out. The Musk Foundation, which had total assets of $9.45 billion at the end of 2023, only gave out $237 million.

According to the Giving USA report, Americans donated a total of $557.16 billion to charity in 2023. 258.3 million people in the United States are adults aged 18 or older. Therefore, the average American has about $2,000 to give to charity. The median net worth in the United States is $192.20. Therefore, each American donates an average of 2% of their personal net worth to charity. Musk donated 0.5%, which is 4 times less than the average American.

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