‘That’s crazy!’: Tesla CEO Musk gives carbon removal $100m boost

Musk’s prizes for new carbon capture technologies will be the largest of their kind ever, organisers say.

Billionaire entrepreneur Elon Musk has offered inventors $100m in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean. “Right now we’ve only got one planet,” said Musk, the CEO of electric carmaker Tesla Inc. “Even a 0.1 percent chance of disaster – why run that risk? That’s crazy!” In January, Musk announced his intention to offer $100m in prizes and set out the contest rules on Thursday, Earth Day. What organisers called the “largest incentive prize in history” will last for four years through Earth Day, 2025.