Elon Musk, the world’s richest individual, has pledged to distribute one share of his aerospace company SpaceX to every child in the United States next year. The initiative, announced on Musk’s social media platform X, is estimated to involve approximately 73 million children and represents a potential giveaway valued at around $11 billion (£8 billion), based on SpaceX’s recent share price.
Musk’s commitment follows the public listing of SpaceX earlier this year and comes amid the company’s expected report of strong third-quarter revenues, anticipated to reach roughly £9.6 billion, up from £5.9 billion in the previous quarter. Musk currently holds billions of SpaceX shares but is subject to lockup restrictions limiting sales or trades of most shares until mid-2027.
The pledge was made shortly after the artificial intelligence company Anthropic announced plans to allocate 5% of its shares to a newly established public benefit fund. Musk responded to this by suggesting shares should be given directly to the public rather than through an intermediary fund, announcing his intention to do so with SpaceX shares.
Musk did not provide detailed information on the logistics or mechanisms of the share distribution, nor did he specify whether it would be carried out through existing programs such as the U.S. Treasury’s “Trump Accounts,” government-managed savings accounts for children seeded with initial deposits and open to donations, including stock contributions. SpaceX’s president Gwynne Shotwell and her husband recently pledged to donate one SpaceX share to over two million children, focusing on lower-income communities in Texas.
The announcement arrives as concerns about the pace and impact of artificial intelligence grow among Americans, with recent polls indicating that a majority believe AI development is proceeding too rapidly. Anthropic, founded as a public benefit corporation designed to balance profit motives with social goals, plans a significant initial public offering in the near future.
Musk’s philanthropic history includes signing the Giving Pledge in 2012, committing to donate half of his wealth, though his charitable donations have faced scrutiny for falling short of legal minimums. He has also made large political donations recently, contributing over $276 million to Republican groups during the current election cycle.
SpaceX and Musk have faced controversy related to satellite internet service restrictions requested by the U.S. government limiting use in Ukraine amidst ongoing conflict. Musk has voiced skepticism about typical philanthropy and envisions future societal structures potentially reducing the role of money, which adds context to questions about how his share giveaway will be implemented.
Overall, Musk’s declared plan to give SpaceX shares to all American children marks a significant and ambitious proposal that could become one of the largest individual donations of company stock to date, though details on execution remain forthcoming.