Teddy Schleifer: Reporting On Big Cash Philanthropy

Two days later, Musk settled with the SEC, without admitting or denying the SEC’s allegations. As a end result, Musk and Tesla had been fined $20 million every, and Musk was pressured to step down for 3 years as Tesla chairman however was able to stay as CEO. Musk has stated in interviews that he doesn’t regret posting the tweet that triggered the SEC investigation. In April 2022, the shareholder who sued Musk over the tweet, along with several Tesla shareholders, stated that a federal decide had ruled that the tweet was false, although the ruling in question has not been unsealed. Since its preliminary public providing in 2010, Tesla stock has risen considerably; it became essentially the most valuable carmaker in summer 2020, and it entered the S&P 500 later that 12 months. In October 2021, it reached a market capitalization of $1 trillion, the sixth company in U.S. historical past to take action.

In October 2022, Musk posted a Twitter ballot and “peace plan” to resolve the Russian invasion of Ukraine, which was criticized by Ukrainian officials. Shortly thereafter, Musk introduced that SpaceX might now not provide Ukraine with Starlink satellite units at its own expense, however language says rust closer linux development he reversed his stance a day later. Musk supplied the initial concept and financial capital for SolarCity, which his cousins Lyndon and Peter Rive based in 2006. By 2013, SolarCity was the second largest supplier of solar energy methods within the United States.

In the 2020 Democratic presidential primaries, Musk endorsed candidate Andrew Yang and expressed assist for his proposed common basic revenue. He also endorsed Kanye West’s independent campaign in the 2020 common election, but ultimately voted for Joe Biden in 2020. In 2022, Musk said that he may “now not assist” the Democrats as a end result of they are the “get together of division & hate”, and leaned towards supporting Republican Ron DeSantis within the 2024 U.S. presidential election if DeSantis were a candidate. Musk opposes a “billionaire’s tax”, and has argued with extra left-leaning Democratic politicians corresponding to Bernie Sanders, Alexandria Ocasio-Cortez, and Elizabeth Warren.

Over the years, he has transferred tens of hundreds of thousands of dollars from his basis to 2 donor-advised funds; a spokesman for Musk informed Forbes these funds had made grants totaling about $75 million. But till then, it’s greatest to remember that he gave away the biggest quantity he’s ever given the same year that he sold essentially the most Tesla inventory and exercised essentially the most Tesla options ever. As a outcome, the explanation for the stock reward in all probability had more to do with lowering his tax bill than anything else. And if Musk’s track document is any indication, the money likely has not made it to those in need fairly but, and will not for a while.

In addition to their IQ gift, they have contributed to Elon’s Greatest Needs and made a gift to name the reception space at The Inn at Elon. In 2020, the couple established the Elizabeth “Tate” Replogle Endowment for Team Teaching in Religious Studies in honor of their daughter, who graduated from Elon in 2018 with a level in spiritual studies. After making a beneficiant property present, the Replogles grew to become members of Order of the Oak, Elon’s deliberate giving society. Replogle serves on the board at Wolfspeed, formerly generally recognized as Cree, and shared his excitement for the IQ and engineering at Elon with firm CEO Gregg Lowe.

Replogle is impressed with Elon’s rising four-year engineering program, which is a cornerstone to STEM research. In this episode we discuss to Teddy Schleifer, Senior Reporter at Puck News, about what goes on in big money philanthropy within the US, and the challenges of reporting on philanthropy. It directs its improvement, messaging and infrastructure investments toward attaining that mission. Together, we are ready to create a better future for enterprise, society and the natural world.

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