How the Musk Foundation’s grants and carbon-removal prize unfolded
The foundation’s 2020 to 2024 tax returns document assets and charitable disbursements. XPRIZE’s 2021 to 2025 announcements trace its foundation-funded carbon-removal competition from launch to final awards.
2020 to 23 April 2025 · 9 dated events · 9 sources
Status in the record · 17 November 2025
The 2024 return reports $14.73 billion in year-end assets at fair market value and $474.38 million in qualifying distributions. XPRIZE announced the carbon-removal competition’s final awards in April 2025.
Coverage through23 April 2025Editorial review3 November 2026
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Annual grants paid by the Musk Foundation
US dollars reported in Form 990-PF Part I, line 25, column (d), for each tax year. These are foundation grants paid, excluding administrative expenses. They are neither Musk’s personal wealth nor the value of assets held.
Choose a year to see its exact amount and source. Bar labels are rounded to one decimal million dollars.
Overview · 2020 to 23 Apr 2025 · click a dot to jump
9 events shown
2020
2020
Finding
The 2020 return records assets and charitable spending
For tax year 2020, the return reports year-end assets of $2,956,347,525 at fair market value and $10,237,958 in qualifying distributions. These are annual figures, not amounts paid on one date.
The 2021 return reports $5,703,165,040 in contributions received and $160,085,353 in qualifying distributions. Contributions received by the foundation are distinct from grants it pays to others.
A $100 million carbon-removal competition is announced
XPRIZE announced a four-year carbon-removal competition funded by Elon Musk and the Musk Foundation. The announced prize program was not a statement that all prize money had already been paid.
For tax year 2022, the return reports $2,245,989,389 in contributions and $160,567,914 in qualifying distributions. Year-end fair market assets were $5,050,765,516.
The 2023 return reports $236,645,423 in qualifying distributions and year-end assets of $9,452,177,174 at fair market value. These figures describe that tax year rather than the later filing year.
For tax year 2024, the foundation reports $474,325,312 in grants paid and $474,381,752 in qualifying distributions. Year-end assets were $14,733,241,124 at fair market value, compared with $462,970,680 in book value. The grants schedule includes $5,450,000 to X Prize Foundation for carbon-removal technology.
XPRIZE announced Mati Carbon as the $50 million grand-prize winner. The organizer also named runners-up and other awardees. These final awards followed the student and milestone rounds within the $100 million competition.
Coverage through 23 April 2025. Editorial review: 3 November 2026. Spotted an error? See corrections. Copyright concerns: report an asset. Every event links to its sources. Source type does not establish whether a claim is true.