Australia markets open in 8 hours 27 minutes
  • ALL ORDS

    7,689.40
    -17.80 (-0.23%)
     
  • AUD/USD

    0.7154
    -0.0015 (-0.21%)
     
  • ASX 200

    7,384.50
    -20.90 (-0.28%)
     
  • OIL

    71.70
    -0.66 (-0.91%)
     
  • GOLD

    1,783.80
    -1.70 (-0.10%)
     
  • BTC-AUD

    68,527.66
    -2,104.98 (-2.98%)
     
  • CMC Crypto 200

    1,280.85
    -25.10 (-1.92%)
     

UN presents Elon Musk with US$6bn world hunger plan

·2-min read
Elon Musk speaks at event while wearing black jacket.
The World Food Programme has provided Elon Musk with an outline of how US$6.6 billion would help fight world hunger. (Source: Getty)

The United Nations has laid out a US$6.6 billion (AU$9 billion) plan to stall world hunger, days after billionaire entrepreneur Elon Musk said he would cover the cost if the UN provided a framework for fighting hunger.

World Food Programme (WFP) director David Beasley called on billionaires to “step up” to combat world hunger in October, suggesting that 2 per cent of Musk’s wealth, or around US$6 billion would be enough to prevent 42 million people from dying of starvation.

Musk responded by saying that if the WFP could show “exactly” how the sum could end hunger, he would sell Tesla stock immediately and fund the plan.

“But it must be open source accounting, so the public sees precisely how the money is spent,” he added.

Beasley later clarified that the sum would not be sufficient to end hunger but it would prevent geopolitical instability, save 42 million lives and stave off mass migration.

He has now shared an “executive summary” of how the money could be used to prevent “catastrophe” across 43 countries.

Under the plan, US$3.5 billion would be funnelled towards purchasing and delivering food, another US$2 billion for cash and food vouchers.

New food programs tailored to individual countries’ conditions would receive US$700 million while another US$400 million would go to administration, operations management, supply chain coordination and accountability.

“The world is on fire. I've been warning about the perfect storm brewing due to Covid, conflict, climate shocks & now, rising supply chain costs,” Beasley tweeted.

“This hunger crisis is urgent, unprecedented, AND avoidable. @elonmusk, you asked for a clear plan & open books. Here it is! We're ready to talk with you - and anyone else - who is serious about saving lives. The ask is $6.6B to avert famine in 2022.”

Musk is yet to reply to Beasley’s framework.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.

Sign up to get Fully Briefed every business day and Rich Thinking every fortnight, straight to your inbox.
Sign up to get Fully Briefed every business day and Rich Thinking every fortnight, straight to your inbox.
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting