Giving USA 2026 report: US donations hit record $617.2bn; Musk questions charity impact

Elon Musk voiced concerns about the effectiveness of philanthropy on a podcast, stating it’s challenging to ensure donated money truly benefits people, not just creates an appearance of goodness. This comes as US charitable giving hit a record $617 billion in 2025, with bequests and foundations showing significant growth. Musk also reiterated his criticism of MacKenzie Scott’s donations, calling them detrimental.