Musk’s Foundation Sent Most of Its Millions to His Entities (1)

Elon Musk’s charitable foundation ballooned to $9.5 billion in assets last year while handing out $237 million in gifts, most of which went to other entities controlled by the world’s richest person.

The figures are part of the Musk Foundation’s latest tax filing, obtained Thursday by Bloomberg News. The annual snapshot shows the organization got a boost from the millions of Tesla Inc. shares it holds and sent $137 million to Musk’s other nonprofit, The Foundation, which he set up to establish a STEM-focused primary and secondary school.

Elon Musk

Photographer: Allison Robbert/AFP/Bloomberg

Once that lower school is operating, it “intends ultimately to ...