Nobel laureate economist "Elon Musk, donate $1 trillion by 2036"...Musk's immediate response

▲ Elon Musk, X Money, cryptocurrency payment/AI generated image

SpaceX CEO Elon Musk has accepted the $1 trillion donation challenge from Nobel laureate economist Daron Acemoglu. However, no specific implementation plan has been disclosed.

According to cryptocurrency media outlet BeInCrypto on July 28 (local time), Acemoglu proposed that Musk donate approximately $1 trillion of his wealth to charities by 2036. He also stipulated that the recipients should be selected by an independent body and limited to organizations with effectiveness and political neutrality.

Acemoglu, an MIT professor, targeted Musk's advocated theory of an AI future. Musk predicted that if robots and AI produce goods abundantly, the meaning of money would diminish. Acemoglu pressed Musk, stating that if he is confident in his prediction, he should prove it with actual assets, not just words.

Within hours of Acemoglu's proposal being made public, Musk responded, "I actually plan to do something similar." However, he did not specify the exact method, such as the timing and amount of the donation or whether a foundation would be established. It is also unconfirmed whether Musk has officially committed to donating most of his wealth through a formal process.

At the time the donation challenge was made, Musk's assets rapidly decreased. According to Forbes, Musk's net worth fell to $695.7 billion on July 27. With SpaceX stock dropping 4.8% to approximately $109.5, the decline from its June 16 peak widened to about 50%. Musk holds 4.8 billion shares of SpaceX stock and 350 million stock options.

In Forbes' real-time billionaire rankings, Musk's wealth was subsequently recorded at $715.6 billion. Larry Page recorded $268.8 billion, Sergey Brin $248.0 billion, and Amazon (AMZN) founder Jeff Bezos $242.6 billion. SpaceX shares are awaiting the lifting of their lock-up period in August.

[Article Key Summary]

-Daron Acemoglu demanded that Elon Musk donate approximately $1 trillion to charities by 2036.

-Musk responded, "I actually plan to do something similar," but did not disclose specific donation plans.

-Musk's net worth decreased to $695.7 billion as SpaceX stock fell by approximately 50% from its peak.

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