Back to the complete issue
Monday, 1 November 2021

Elon doesn’t think his donations can end world hunger

Is it reasonable for bn’aires to actually end world hunger? As a bn’aire of course Elon Musk would say no. However, he did say on Twitter he is willing to sell Tesla stock worth as much as USD 6 bn “right now” if the World Food Program (WFP) can prove how this sum would resolve the issue using “open source accounting.” Musk’s tweets come in response to WFP Director David Beasley singling out Musk and Amazon’s Jeff Bezos — the world’s richest people — and pushing them to donate a fraction of their wealth. After Tesla’s valuation surpassed USD 1 tn last week, Beasley suggested that a USD 6 bn donation from Musk (i.e. 1.9% of his overall wealth of USD 311 bn) could save 42 mn people from starvation.

Barclays chief executive Jes Staley is stepping down, after the bank received preliminary conclusions from a probe by the UK’s Financial Conduct Authority and Prudential Regulation Authority into Staley’s relationship with disgraced [redacted] offender Jeffrey Epstein, the bank said in a statement. Staley, who will be replaced by his right-hand man, CS Venkatakrishnan, is the latest in a string of high-profile figures to get the fall for ties to the late Epstein, who took his own life in 2019 while awaiting trial charges of trafficking minors.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.