Elon Musk Is Giving Away $100 Million - worldtopdata

 Elon Musk Is Giving Away $100 Million

Elon musk's net worth has plummeted thanks to his recent fight with Bitcoin. Brothers but he's still one of the richest people on the planet Elon Musk is worth about 155.6 billion dollars and he's giving away some of his fortunes if you want to get your hands on. some of the musk's money all you have to do is figure out a way to solve the climate crisis simple right musk is putting up 100 million dollars. Of his own money to fund a new x prize competition if you and your team can come up with an innovative new carbon removal technology, you could win a 50 million dollar grand prize.

This is how Elon Musk is giving away 100 million dollars getting a piece of Elon Musk's fortune isn't going to be easy it will require a lot of ingenuity and Brain Power Musk and The Musk Foundation are funding the 2021 gigaton scale carbon removal Xprize for at cost of 100 million dollars. But musk says he's open to providing more funding if there are standout teams in need of more money so what do you have to do to get a hold of the largest x prize in history well for starters you and your crew will have to propose to develop test and demonstrate a technology that could be used to extract carbon dioxide directly from earth's atmosphere or oceans if you flunked physics chemistry or biology you're probably out of luck but if you know your science and can think outside the box.

Then you might have a shot at the cash saving the world would be a pretty good feeling too the contest will run for four years so you better get to work. The ultimate goal of musk's carbon removal competition is to spur the invention of numerous carbon removal solutions the climate crisis is mankind's biggest threat so we're going to need all the help we can get if contestants are successful in developing new carbon removal technologies then we might have a shot at fighting climate change and rebalancing earth's carbon cycle so how will all this money be used well 15 million dollars will be used as seed money for participants so contestants can get their carbon removal tech-ready five million of the 100 million dollars will be reserved for student-teams the team with the best idea will win the 50 million grand prize and the remaining 30 million dollars will be split amongst the second third and fourth place winners to win the grand prize a team must prove that its carbon removal technology can extract a minimum of 1000 metric tons of carbon dioxide.

Elon Musk Net Worth

Every year the winning team must also prove that its carbon removal tech is scalable and will be able to extract millions of tons of carbon dioxide from the atmosphere in the future it's not just about being successful now. The tech has to work in the future because unfortunately we continue to pump carbon dioxide into the atmosphere at an alarming rate and many countries are not cutting greenhouse gas emissions fast enough this all might seem complicated so what exactly is carbon removal technology to put it simply it's a type of carbon capture technology where existing carbon emissions that are already in the air or dissolved in the oceans are physically removed carbon removal can be accomplished in many ways some are fairly simple while others are extremely complex sustainable agriculture and planting trees are a few obvious examples even rocks and minerals can be used to remove carbon from the atmosphere think of it like this you're removing the pollution from the air instead of preventing it in the first place although prevention and carbon removal will both play a major role in solving the climate crisis by now you're probably in need of some inspiration luckily we're here to help here are some of the most common types of carbon removal currently in use first there's afforestation which is the process of planting trees and seedlings in an area where there were no trees before.

The new trees perform photosynthesis by pulling carbon dioxide out of the air binding it up in sugar and releasing it as oxygen yes carbon removal can be as simple as planting more trees planting trees is simple and cost-effective but the costs can add up for example India is spending 6.2 billion dollars to increase the country's green cover there's also ocean fertilization which is a form of geoengineering that involves adding nutrients to the top layers of the ocean to stimulate phytoplankton activity the phytoplankton also perform photosynthesis and decrease atmospheric carbon dioxide levels think of it as the marine equivalent of planting more trees but instead of trees, it's algae ocean fertilization is also cost-effective and it makes a difference in 2012 the Haita salmon restoration corporation. Spent 2.5 million dollars to disperse 100 short tons of iron sulfate dust into the Pacific off the coast of British Columbia carbon removal can also be a lot more complicated direct air capture is when carbon dioxide is captured directly from the air using an engineered mechanical system.

The carbon can be stored or used to produce a carbon-neutral fuel whoever wins musk's x prize will likely come up with a new form of direct air capture. The Xprize has been around since the 90s and a lot of green techs has been developed thanks to the competition in 2010 the 5 million progressive insurance automotive x prize was awarded to team Edison 2 for creating a fuel-efficient auto called the very light car the climate crisis is detrimental to the survival of the human species but the economic costs are severe as well if the climate crisis is not solved hurricane damage real estate losses energy costs and water costs in the united states will equal 1.9 trillion dollars or more annually by 2100 that's it, folks.  >Elon Musk Is Giving Away $100 Million

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Report : World Top Data 

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Source : Forbes