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US Charitable Giving Hits Record $617bn as Musk Questions Philanthropy's Impact

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US charitable donations reached a record $617.2 billion in 2025, according to the Giving USA 2026 report, with bequests and foundation contributions showing notable growth. Elon Musk, speaking on a podcast, raised doubts about the effectiveness of large-scale philanthropy, arguing it is difficult to ensure donated funds genuinely help people rather than merely project an image of goodness. Musk also renewed his criticism of billionaire philanthropist MacKenzie Scott, describing her donation strategy as harmful. The comments come amid a broader national conversation about how charitable wealth is directed and whether it achieves meaningful impact.

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