Reported by 2 outlets
The story so far
AI summary of the reporting below · Updated · How we work
Elon Musk posted on X that he plans to distribute one of his SpaceX shares to every child in America in 2027. With more than 70 million children under 18 in the United States and SpaceX shares valued at $146, the pledged stock giveaway would total more than $10 billion, or roughly 1% of Musk's estimated $1 trillion net worth. [1][2]
Musk stated that he intends to provide the equity directly to the public as the first of many planned donations, though he provided no specific timeline for 2027, eligibility age brackets, or distribution mechanisms. Potential pathways include federally established child bank accounts set up through the Treasury by President Donald Trump to receive stock donations from wealthy individuals. [1][2]
The announcement arrived hours after artificial intelligence startup Anthropic revealed plans to place 5% of its shares into a public benefit fund for charitable distributions following its upcoming IPO. Musk publicly criticized that structure on X, arguing donations should go straight to individuals rather than traditional philanthropic entities. [2]
Musk's post came just a few hours after Anthropic promised to put 5% of its shares into a new "public benefit fund," which it intends to use to make "large donations to traditional nonprofits or direct distributions to specific populations" after its upcoming IPO.
via TechCrunch
Musk explained the plan on his X platform. He didn't elaborate, so we don't know details such as what ages will qualify for a free share, how he intends to distribute them, and exactly when the giveaway will take place in 2027.
via TechSpot