Elon Musk promised to give one SpaceX share to every child in the US next year. The company's CEO announced his intention in a post on the social network X.
“Next year I will give one SpaceX share to every child in America. This will be the first of many gifts“, Musk wrote.So far, no details have been announced on how the shares will be distributed, who will be entitled to them and whether “every child“ means all persons under the age of 18. It has also not been specified whether all children living in the US or only American citizens will be included. This was also stated by the Associated Press, which noted that Musk did not present a mechanism for fulfilling the promise.
A donation of about $10.5 billion
According to estimates cited by the US Census Bureau, there are about 72 million children in the country. At a price of $146 per share, the total value of the possible donation would reach approximately $10.5 billion.
The Associated Press used a slightly higher estimate of about 73 million children under 18 and a share price of $146.03. With this calculation, the value of the promise would be about $10.66 billion.
SpaceX shares closed trading at $146, according to information cited by “Focus“. The stock price fluctuates, meaning the value of any gift would depend on the market valuation at the time of the transfer.
The pledge follows Anthropic's move
Musk's statement came a day after Anthropic announced it would set aside 5% of its stock for a new public benefit fund. In response to the announcement, Musk wrote: “I recommend that the shares be given directly to the public.“ He later said that is exactly what he would do with his SpaceX shares.
At this stage, the pledge remains without announced rules, deadlines or a procedure for receiving the shares. It is unclear whether a special scheme will be created to custodian securities for minors or whether the shares will be provided through existing investment accounts.
Parallel to Trump Accounts
The Trump Accounts initiative is already in operation in the US, which provides for a one-time payment of $1,000 for children born between 2025 and 2028. The accounts are intended to be used for long-term investment and can be opened for children under 18.
Against this background, one SpaceX share would have a different value for individual families, as its price can change. According to Bloomberg, Musk's fortune is estimated at $904 billion, with a significant portion of it related to his involvement in SpaceX.
Sources: focus-news.net, apnews.com, axios.com