Billionaire Elon Musk Giving $1M to Tesla Museum
SHOREHAM, N.Y. — The billionaire owner of Tesla Motors is giving $1 million to a New York museum dedicated to preserving the legacy of the inventor who inspired its name, reported The Detroit News.
The Tesla Science Center announced Elon Musk’s donation on what would have been Nikola Tesla’s 158th birthday.
The museum said Thursday that Musk will also install a Tesla supercharging station.
The museum is being built on the 16-acre site of Tesla’s Wardenclyffe laboratory in Shoreham, Long Island. The Serbian scientist began an unfinished project there to send messages and electricity around the world wirelessly.
Tesla is known for his work with alternating current and experiments with X-rays.
Musk co-founded PayPal and also runs space contractor SpaceX. His donation comes after a request from Tesla fan and museum backer Matthew Inman of TheOatmeal.com.
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →