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Elon Musk hints at his next endeavour; sets a contest worth $100M prize

Elon Musk hints at his next endeavour; sets a contest worth $100M prize 2

Elon Musk might have just hinted at his next philanthropic endeavour via his tweet on Thursday stating, “Am donating $100M towards a prize for best carbon capture technology.”

Further details are awaited as the SpaceX CEO stated that more information would be revealed in the coming week.

In 2012, Musk had signed an initiative launched by Bill Gates and Warren Buffet, Giving Pledge, that seeks signatories to donate at least fifty per cent of their wealth within their lifetime. The initiative has so far donated in the field of science and engineering education, pediatric research,  renewable energy research alongside human space exploration research.

But apparently, Musk has contributed only 1% of his network in the form of donation, as per Forbes’ September estimates.

Earlier this month, Musk surpassed Amazon’s CEO, Jeff Bezos in the list of the wealthiest people on earth. Although, the recent downfall in Tesla’s stock value pushed him from the number 1 spot to the 2nd spot.

He had mentioned in a tweet before, “Critical feedback is always super appreciated as well as ways to donate money that really make a difference (way harder than it seems).”

Musk’s new teaser beginning with the supposed carbon capture contest is about his next, apparently a step ahead towards fighting climate change, inducing faster rate of progress under Joe Biden’s administration since he addressed his high concerns over climate-related issues.

The November publication of a study report in Scientific Reports urged the need for “developing the technologies for large scale removal of greenhouse gases from the atmosphere.” This is a process termed as carbon capture and storage.

This technology is a safer medium of geoengineering when it is compared to the other prevailing approaches. Biden spoke in favour of this in his campaign speech. He is going to implement plans under his administration to act on accelerating the development and deployment of carbon capture sequestration technology.

Khushi

Khushi is an avid reader and loves analyzing companies in the digital space. His interest in online marketing, business, and politics define her enthusiasm for the subject.
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