Photographer: Patrick T. Fallon / Bloomberg
Photographer: Patrick T. Fallon / Bloomberg
Elon Musk said he plans to hand in $ 100 million towards an award for best carbon capture technology, weeks after becoming the richest person in the world.
Musk made the news Thursday on Twitter, his favorite medium of communication, and said details would come next week.
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The net worth of Tesla Inc. co-founder rose. in the past year, promoted it past Jeff Bezos, as the maker delivered steady profits, attracted forces of retail investors and earned inclusion in Index. S&P 500.
The South African-born entreprenuer is now worth $ 201.4 billion, according to the Index Bloomberg Billionaires.
One of his first impressions of being the richest man – after the first shrug – was to seek advice on how to deliver it.
Musk, 49, is a philanthropic neophyte compared to those who just jumped on Bloomberg’s ranking of the 500 richest people in the world.
Elon Musk, founder of SpaceX and chief executive of Tesla Inc., will speak at a discussion at the Satellite 2020 Conference in Washington, DC, USA, on Monday, March 9, 2020. The event will bring includes important topics facing both satellite and end-user industry, and brings together a diverse group of thought leaders to share their knowledge.
Despite signing the Pledge of Donation, Musk did little in public in a charitable manner. It has donated more than $ 257 million to the Musk Foundation – equivalent to about 0.1% of its current net worth – which it distributed $ 65 million between 2016 and 2018 to around 200 non- profit, according to a study by Quartz.
Turning to social media to seek out philanthropic ideas, Musk follows in the footsteps of Bezos, who asked his Twitter followers to offer suggestions on charity giving in 2017.
Musk’s focus on carbon sequestration is in line with his other industry interests, which largely focus on technological solutions to critical environmental problems.
Carbon capture and storage is a combination of different technologies, all of which share one goal: capturing carbon dioxide, a greenhouse gas that warms the planet, and stops it from being dumped in the atmosphere. It can be applied to capture emissions from power stations, industry or even directly from the air.
There are about two dozen large plants worldwide, capable of capturing about 40 million metric tons of CO2 each year – about 0.1% of the global annual total.
Musk has stated that the purpose of accumulating wealth is to give it away, or at least redirect it to his passion projects, i.e., place exploration. “This is going to take a lot of resources to build a city on Mars,” he told German publisher Axel Springer. “I want to contribute as much as I can. ”
– Supported by Akshat Rathi
(Updates with carbon capture technology in the 10th paragraph.)