The world’s richest person, Elon Musk, has announced plans to give every child under the age of 18 in the United States one share in his space exploration and artificial intelligence company, SpaceX, next year.
Musk made the announcement in a post on the social media platform X on Monday, October 19.
According to the plan, distributing one share each to approximately 73 million US children could bring the total market value of the shares to around $10.7 billion. The estimate is based on a current market value of approximately $146 per SpaceX share. However, Musk has not provided details about the distribution process, eligibility requirements or how the initiative would be funded.
According to estimates from the US Census Bureau, the country has approximately 73 million children under the age of 18. If implemented, the plan would represent a significant effort to give children direct ownership stakes in a major private company.
Musk’s announcement follows a social initiative by artificial intelligence company Anthropic, which had pledged to allocate at least 5% of its total shares to a public-benefit fund. The fund was intended to support people who lose their jobs as a result of the expansion of artificial intelligence.
In response, Musk proposed distributing shares directly among ordinary people and said he would undertake such an initiative himself.
Efforts to provide financial benefits to children in the United States are not new. Earlier this month, the US Treasury Department launched financial account and contribution initiatives for children under the “Trump Accounts” programme. Eligible children can receive $1,000 under the scheme.
In addition, in July, SpaceX President Gwynne Shotwell and her husband pledged to donate one SpaceX share each to two million children.
Meanwhile, the financial activities of Musk’s own foundation, the Musk Foundation, have also drawn attention. The foundation reportedly held assets worth more than $14 billion at the end of 2024. However, an analysis by The New York Times claimed that a large portion of the foundation’s funds had gone to organisations linked to Musk’s business interests.
If the proposed distribution of SpaceX shares to children goes ahead, it could spark further debate in the United States about wealth distribution, children’s future financial security and public participation in ownership of the technology sector. For now, official details about implementation and the conditions for receiving shares remain unavailable.
Source: CNN
