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Musk’s $5.7B Mystery Gift Went to His Own Charity

bloomberg.com

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Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#221

Post by kennend3 »

s1artibartfast wrote: post #186
kennend3 wrote: post #131

Earlier quoted context omitted.

Sure you can: Here's a nice 6 million dollar house bought by a charity: https://nymag.com/intelligencer/2022/04/black-lives-matter-6... And a nicer 8 million dollar house bought by the same charity (all cash, must be nice) https://www.washingtonexaminer.com/restoring-america/fairnes... you see stories like this in the news fairly often, this is just two recent examples.

I totally agree that there are some corrupt Charities out there and bad practices. However, I don't think that's a condemnation of the concept of Charity as a whole.

I'm not "condemning" charity, some are really good and I financially support two that are important to my own family.

My point was simple, someone said charities cant buy houses, but they in fact can and do.

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#222

Post by blisterpeanuts »

tlogan wrote: post #154
blisterpeanuts wrote: post #115

Earlier quoted context omitted.

Quoted post unavailable.

The reason is because he is a narcist. And since he is narcist, he wants to be in the news all the time. However negative news sell more. And somehow he made more enemies than Trump: Trump will not be booed in Oklahoma but Elon will be booed both in Oklahoma and San Franscisco.

What makes Musk more of a narcissist than any number of other celebrities and influencers who spend all their time online and post provocative tweets, videos, Tiktoks, etc.? What's your definition of a narcissist?

I'm also curious why Elon Musk would be "booed" in Oklahoma (where I'm from, by the way). Is it because of his industrial achievements, or his libertarian and free speech leanings, or because he hails from South Africa, or...?

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#224

Post by tdeck »

DwnVoteHoneyPot wrote: post #210
Retric wrote: post #170

Earlier quoted context omitted.

“However, crucially, when the money leaves the foundation it must go to an approved charity.” They can spend money on expenses and those expenses can benefit you. Having family members work for and be generously paid by such an orientation is a common example. Anytime you control a cash flow you can benefit from that cash flow.

It's not unreasonable for a family member to want to spend their days working at a charity, using the family funds and time for good. But then it gets spun as nepotism by haters.

Because it is nepotism. They're drawing a salary, not volunteering to "do good". Why were they qualified for that position? It's obviously because they're a family member.

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#225

Post by blisterpeanuts »

ulrashida wrote: post #223

The public perception difference is quite easy to see. Compare these two statements: 1. "I gave $5B to charity" 2. "I gave $5B to my charity" That they're both charities does not wash away the feeling that one of them is a bit less selfless than the other.

Bill and Melinda Gates Foundation would also be "my charity", would it not? Or are you distinguishing between foundations and direct recipients of charitable donations?

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#226

Post by camel_Snake »

DwnVoteHoneyPot wrote: post #210
Retric wrote: post #170

Earlier quoted context omitted.

“However, crucially, when the money leaves the foundation it must go to an approved charity.” They can spend money on expenses and those expenses can benefit you. Having family members work for and be generously paid by such an orientation is a common example. Anytime you control a cash flow you can benefit from that cash flow.

It's not unreasonable for a family member to want to spend their days working at a charity, using the family funds and time for good. But then it gets spun as nepotism by haters.

if they got that job because they are family it's literally nepotism.

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#227

Post by JumpinJack_Cash »

memish wrote: post #190
berkes wrote: post #183

Earlier quoted context omitted.

> Elon is the most productive human That's an impossible to prove statement. And it reeks of fanboysim all over. It makes your entire argument look very biased as well.

If he's not, he's certainly close. The point is he produces more than he consumes and does so at high scale. You can measure the impact of Tesla and SpaceX with the number of cars and rockets produced. Payload to orbit and so on. That would not have happened if he hadn't spent most of his time and money there for the past 20 years. Who would you say is the most productive?

> That would not have happened if he hadn't spent most of his time and money there for the past 20 years.

It would have happened just like that, only the person doing the signing off (because that's what CEO do, they sign off stuff built by others) on those projects would have been called say "Mlon Eusk" a Swedish entrepreneur who moved to California, and right now you'd be worshipping him instead.

It's the same for everything, if Albert Einstein didn't come up with relativity it would have been Elbert Ainstain .

It's really bizzarre how any knowledge of statistics goes out of the window when disucussing people, celebrities and historical figures.

I guess it's a protection mechanism of the human brain so each and everyone of us can still believe that everyone could be a Powerball winner as long as they work hard enough or want it bad enough, whereas in reality it's just the luck of the draw, only the draw is only visible by people who manage to override that protection mechanism in their brain and look at reality as it is.

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#228

Post by ilrwbwrkhv »

SanjayMehta wrote: post #73
ilrwbwrkhv wrote: post #70

Of course it did. Just how SBF's gifts went towards his own friends and family. Why do people expect anything else I don't understand.

Comparing SBF and Musk does not seem right. For all his faults, Musk has actually created real products. SBF on the other hand seems to have been really good at raising money. Much like Elizabeth Holmes.

Musk has found his way towards people who created real products. SBF basically didn't have those skills. But they are both grifters.

Re: Musk’s $5.7B Mystery Gift Went to His Own Charity

#229

Post by k099 »

jasonlfunk wrote: post #96

Instead of giving directly to charities like St. Judes - he funds his foundation which gives to charities like St. Judes. When you give away $5B, wouldn't it be irresponsible to not give it to a foundation? And if you have your own foundation, wouldn't it be dumb to not give it to your own foundation? This seems like a nothing story; except that it's in vogue to hate Musk right now.

While I agree that this is ordinary for very rich people, it's good reporting and context for us to know where and how the 2nd richest man in the world takes a tax deduction that we publicly fund.
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