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Elon Musk says he will give $100 million for carbon capture prize

Musk, 49, is a philanthropy neophyte compared with those he just leapfrogged on the Bloomberg ranking of the world's 500 wealthiest people

Elon Musk
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Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., speaks during a discussion at the Satellite 2020 Conference in Washington, D.C., U.S., on Monday, March 9, 2020 | Photo: Bloomberg

Devon Pendleton | Bloomberg
Elon Musk said he plans to donate $100 million toward a prize for the best carbon capture technology, weeks after he became the world’s richest person.
 
Musk made the announcement Thursday on Twitter, his preferred medium of communication, and said details would come next week.

The Tesla Inc. co-founder’s net worth surged in the past year, boosting him past Jeff Bezos, as the carmaker delivered consistent profits, attracted legions of retail investors and earned inclusion in the S&P 500 Index.

The South African-born entreprenuer is now worth $201.4 billion, according to the Bloomberg Billionaires Index.

One of his first reactions on

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First Published: Jan 22 2021 | 2:24 PM IST

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