Elon Musk answers why he didn’t spend $44 billion on charity

The move caused controversy with many Twitter users who didn’t like the idea of ​​Musk becoming an owner, and many people argued that there were much better things Musk could have spent dozens of dollars on. billions of dollars.

One reviewer commented, “Musk could easily help people using $44 billion. Instead, he bought Twitter. He could easily save dozens of lives by donating some of that money to charity or to help solve world hunger. But no, he bought Twitter for fun. . I’m not a fan of Elon Musk. Not at all. »

Elon Musk attended the Met Gala with his mother. Credit: Alamy

Following the criticism, Entertainment Tonight decided to take up the subject with Musk when he appeared on the Met Gala red carpet in New York last night (May 2), asking why he wasn’t using the money to charity, philanthropy or doing “more good”.

He replied, “Well, I do a lot of things philanthropically and really my businesses are meant to do good for the future of mankind. »

Listen to Musk discuss the matter below:

Musk highlighted his companies Tesla and SpaceX, noting that the former aims to “accelerate the advent of sustainable transportation and energy” while the latter “brings the internet to the world’s underserved.”

He also cited his work in Ukraine, where he sent Starlink terminals to help keep the country connected amid its ongoing war with Russia.

“With my aspirations, I try to do good for humanity and the future of civilization,” he continued.

The Tesla co-founder has an estimated net worth of $264.6 billion, although much of his money is invested in stocks.

Following his deal to buy Twitter, Musk revealed he sold $8.5 billion worth of stock, and he also pledged some of his Tesla stock to banks to arrange a $12 margin loan, $5 billion to help cover the cost of the deal.

Sources cited by . claimed that Musk was also in talks with major investment firms and wealthy individuals to discuss more funding and allow him to use less of his own wealth in the takeover, although he is not seeking to take on more debt. in order to close the deal.

45secondes is a new media, do not hesitate to share our article on social networks to give us a solid boost. 🙂

Leave a Comment