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Originally published at The Manhattan Press.
Elon Musk says he will give one of his SpaceX shares to “every kid in America” in 2027, TechCrunch reported. At current prices of $146 for a SpaceX share, the gift would be worth more than $10B, or about 1% of the $1 trillion net worth of Musk.
It is not clear how Musk plans to give these shares out to every kid in America. In a separate post on X, Musk said that he intended to give the shares “directly to the public” and that this would be the “first of many” share giveaways that he intends to carry out. Musk did not immediately respond to TechCrunch’s request for comment.
President Donald Trump, whose election Musk backed with about $300 million, has established Treasury accounts for children called “Trump Accounts” that may receive stock donations from wealthy donors, TechCrunch noted.
The announcement came just hours after AI company Anthropic said it would devote 5% of its shares to a new “public benefit fund” that would make large donations to nonprofits and other organizations as well as distribute cash to specific groups of people after the company’s initial public offering. On Sunday afternoon, Musk replied to Anthropic’s post on X to suggest the company should give “directly to the public” instead. “This is what I will be doing,” he wrote in another reply four hours later. Overnight, he announced the SpaceX plan.
According to the Federal Interagency Forum on Child and Family Statistics more than 70 million children under 18 live in the United States. Musk owns approximately 849 million Class A common shares of SpaceX and more than 5.5 billion Class B supervoting shares, according to an SEC filing.
For the most part, Musk’s philanthropy has flowed through the Musk Foundation, the fifth largest private charity in the country. A recent review by The Economist found that most of the money the foundation has paid out went to entities tied to Musk in some way. Nearly 60% has gone to another charity, The Foundation, which is managed by Musk’s money manager, Jared Birchall.
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