Charity begins after Musk

The Musk Foundation has repeatedly failed to meet the IRS requirement of donating at least 5% of its assets annually to maintain tax-exempt status. In 2021, it was $41 million short; in 2022, $234 million short; and in 2023, it fell short by $421 million, despite donating $237 million. The foundation can make up for these shortfalls by distributing more in the following year, but it has consistently fallen below the required threshold for three consecutive years.