The CEO of search giant Google has suggested that billions of dollars should not go to small organisations, but rather to other billionaires.

Larry Page told a TED conference in Vancouver that he wanted his money going to capitalists like Elon Musk - those with big ideas for changing the world.

Mr Musk is a South Africa-born business magnate and investor. He is the CEO of SpaceX and Tesla Motors - as well as being co-founder of PayPal.

Mr Page said he thinks Mr Musk's vision for going to Mars "to back up humanity" is "a worthy goal."

"It's a company, and it's philanthropical," he said.

"You're working because you want to change the world. You want to make it better. Why isn't the company that you work for worthy not just of your time but your money as well?".

"I mean, but we don't have a concept of that. That's not how we think about companies, and I think it's sad, because companies are most of our effort."

"They're where most of people's time is, where a lot of the money is, and so I think I'd like for us to help out more than we are," he added.