Elon Musk Agrees With Coinbase CEO Brian Armstrong That Some Charities Are 'Net Negative': 'He's Right'

Elon Musk echoed Coinbase CEO Brian Armstrong's criticism of traditional philanthropy, agreeing that some charitable foundations are net negative and can become captured by ideology. Musk wrote on X, "He's right." Armstrong argued that well-intentioned initiatives can produce unintended consequences, using criminal justice reform as an example, though he provided no data to support this claim.

Armstrong prefers using donor-advised funds, which allow donors to recommend how money gets invested and distributed, rather than permanent institutions. Musk has also donated billions, but has voiced concerns about his own philanthropy, such as questioning MacKenzie Scott's impact.