Home LifestyleHealth Elon Musk’s largest donation so far turned out to be this project
Elon Musk's largest donation so far turned out to be this project

Elon Musk’s largest donation so far turned out to be this project

by YCPress

January 22, Tesla CEO Elon Musk said on Twitter that he would donate $100 million to the Best Carbon Capture Technology Award, and the details of the donation will be announced next week.

According to the data, carbon capture technology is to compress the carbon dioxide captured and released into the atmosphere and press it back to depleted oil and natural gas fields or other safe underground sites to help reduce harmful gases generated by burning fossil fuels.

It is worth mentioning that this donation will become the largest charitable donation he has made so far.

Foreign media pointed out that although Elon Musk had signed the “Donation Oath” launched by Bill Gates and Buffett before, he had relatively little charity in public.

According to the analysis of Quartz website, Musk donated more than $257 million to his foundation, which is only 0.1% of his current net worth, which donated $65 million to about 200 non-profit organizations from 2016 to 2018.

However, Elon Musk also said in previous interviews that the reason for his wealth is to donate money, or at least spend it on the project he loves, that is, space exploration.

He once told German publisher Axel Springer: “Building a city on Mars requires a lot of resources, and I hope to contribute as much as possible.”

100 million US dollars! Musk announced that it would provide a prize for the Best Carbon Capture Technology Award.

January 21st local time, Tesla CEO Elon Musk announced on Twitter that he would provide a $100 million prize for the “Best Carbon Capture Technology Award”.

He then said in a second tweet that “details will be announced next week.” Tesla did not immediately respond to requests for comment.

According to Reuters on the 21st, capturing the carbon emissions that warm the world is becoming a key part of many climate change control plans, but so far little progress has been made in this technology.

At present, most technologies are mainly aimed at reducing carbon emissions, rather than eliminating carbon in the air.

At the end of last year, the International Energy Agency (IEA) said that if countries are to achieve the net zero emission target, they need to significantly increase the deployment of carbon capture technology.

According to the electric vehicle media Electrek, carbon capture, also known as “carbon capture and storage” (CCS), that is, carbon dioxide (CO2) is captured and sealed at the source of emissions to prevent it from leaking into the air, and subsequent carbon is involved in other purposes.

By reducing atmospheric carbon dioxide emissions, this technology is considered a potential solution to mitigate and even reverse climate change in the future.

However, current carbon capture technologies have often proved inefficient and increase the cost of energy production. Therefore, without carbon incentives, it will make it uncompetitive.

It is worth mentioning that in 2012, Musk signed the “Giving Pledge”, an initiative launched by Bill Gates and Warren Buffett, requiring signatories to donate at least half of their wealth in their lifetimes for science and engineering purposes.

Education, renewable energy research, pediatric research and human space exploration research.

But according to Forbes’ findings last September, Musk has donated only $100 million so far, less than 1% of his net worth.

Before Tesla’s stock price plummeted, Musk briefly surpassed Amazon CEO Jeff Bezos to become the richest man in the world.

Recently, Musk tweeted for advice from his fans on how best to donate his wealth.