Billionaire Elon Musk announces another N39 billion donation for a special purpose

SpaceX figure head Elon Musk has announced that he will be offering N39 billion to the cause of carbon capture technology advancement.

In a post seen by Bioreports on Twitter the billionaire said the purpose of that lump sum donation was to further carbon capture technology research and the star prize of N39 billion will go to whoever will come up with the best carbon capture technology.

“Am donating $100M towards a prize for best carbon capture technology.”

Billionaire Elon Musk announces another N39bn donation for a special purpose
Photo Credit: Bloomberg

The offer by Musk made earlier today follows newly inaugurated US President Joe Biden signing of an executive order that will see the US rejoin the Paris Agreement it had quit under his predecessor Donald Trump.

The Paris Agreement, a legally binding global treaty, aimed at drastically reduce global warming to as low as 1.5 degree Celsius in comparison with pre-industrial levels, thus tackling climate change.

Trump had withdrawn the US from the Paris Agreement citing that the US did much of the funding compared to another country.

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While no further detail was given as to how the best carbon capture tech will be evaluated or how the process will pan out, with Musk promise of more details in the coming week, this cash donation will definitely rejig research in the stagnant greenhouse gas area.

Before now, the electric-car maverick had a blueprint that will aid in revolutionizing battery technology as well as the development of wind and solar energy.

Meanwhile, Bioreports had earlier reported Elon Musk donated N20 billion to a top international educational outfit to support their cause.

Musk who returned to the number 1 spot on the world rich list on Tuesday, January 12, gifted the Khan Academy with the whopping sum as a way of supporting their activities.

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Khan Academy founder and boss Salman Khan confirmed this development in a YouTube post on Monday.

The scholarly man was full of praise for the electric-car producer and even asked him if “…he is really feeling good about this.”