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Financial Influencer Explains How Elon Musk Uses Charity To Avoid Paying Taxes
Can he just fund Grimes's next album instead?
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Musk has said publicly that he doesn't believe in philanthropy, stating his for-profit businesses do enough good already. Turns out, by creating a charity with enough money (a lot actually) you can avoid giving out what you legally have to.
For Musk, one notable charity is his funding of public schools... that exist in his exclusive gated communities. A tactic he can also use to land government contracts, essentially getting the government to fund his projects without ever having to tap into his own funds.
Via your.richbff.