Elon Musk, the entrepreneur and founder of SpaceX, just announced that he will contribute $50 million to Inspiration4's $200 million fundraising target for St. Jude Children's Research Hospital.

Last Wednesday night, a SpaceX rocket launched Inspiration4, the world's first all-civilian mission, into orbit. On Saturday evening, the group returned with a successful splashdown. They've already raised more than $60 million, and mission commander Jared Isaacman has pledged $100 million. Donations will be used to support the development of "breakthrough research, treatment, and cures," according to Inspiration4.

“All of us at St. Jude are incredibly grateful to Inspiration4 Commander Jared Isaacman for his support of our lifesaving mission,” said Richard C. Shadyac Jr., President and CEO of ALSAC, St. Jude's fundraising organization. “He is an amazing individual and humanitarian who aligned his passion for space with a philanthropic purpose for the mission: Finding cures and saving children from life-threatening diseases.”