Elon Musk Announces $100 Million Prize For Best Carbon Capture Technology Idea

Elon Musk has announced a $100 million (£73,113,500) prize for a new carbon capture competition.

The billion Tesla boss took to Twitter to write:

For now he's been pretty elusive about what the competition entails, who it's open to, when it takes place, how to enter and... well, you get the idea. We basically have no information about it yet.

But details are set to be released 'next week' according to Musk, who has already had tens of thousands of replies on his initial tweet.

The $100 million prize will be Musk's most generous philanthropic action ever and it comes just weeks after he tweeted asking his 42.7 million followers for advice on where to donate his ever-growing pile of cash.

I'll take some off your hands, mate.

PA

Taking to Twitter, Musk wrote: "Btw, critical feedback is always super appreciated, as well as ways to donate money that really make a difference (way harder than it seems)."

As you can probably imagine, it wasn't long before Musk was flooded with suggestions, so it seems he'll have his pick of good causes to get behind.

Figuring out what to do with your massive stacks of cash is pretty nice to problem to have and if Musk finds himself completely stumped, he could also take a leaf out of fellow billionaire Jeff Bezos' book and launch his own foundation.

Last year, Bezos proudly announced his Earth Fund and in a follow up in November confirmed the first of his £7.6 billion ($10 billion) pledge to help stop climate change.

He wrote: "I've spent the past several months learning from a group of incredibly smart people who've made it their life's work to fight climate change and its impact on communities around the world. I'm inspired by what they're doing, and excited to help them scale.

"Today, I'm pleased to announce the first Bezos Earth Fund recipients - 16 organizations working on innovative, ambitious, and needle-moving solutions.

"This $791 million in donations is just the beginning of my $10 billion commitment to fund scientists, activists, NGOs, and others. We can all protect Earth's future by taking bold action now."

Topics: elon musk, Technology

Claire Reid

Claire is a journalist at LADbible who, after dossing around for a few years, went to Liverpool John Moores University. She graduated with a degree in Journalism and a whole load of debt. When not writing words in exchange for money she is usually at home watching serial killer documentaries surrounded by cats. You can contact Claire at [email protected]

@ClaireReid19