Musk says he plans to give one SpaceX share to each U.S. child

Musk's announcement

According to SBS News, Elon Musk, the chief executive of SpaceX, said on X that he plans to give one share of SpaceX stock to every child in the United States next year. He also wrote that this would be “the beginning of many things.” The article says the move is being read as an attempt to pass his wealth on to future generations, but it notes that he has not explained how it would be carried out.

Estimated cost and share count

SBS News reports that Bloomberg estimated the proposal would require about $10.5 billion, or roughly 3.966 trillion won, if Musk actually gave one share to each of the roughly 72 million children under 18 in the United States. The estimate used a SpaceX share price of $146 and U.S. Census Bureau population figures, according to the article.

Musk's wealth and feasibility

The article says some analysts believe the funding would not be impossible because of the size of Musk's fortune. Citing the Bloomberg Billionaires Index, SBS News reports that his net worth is above 1,196 trillion won, including about 931 trillion won from SpaceX stock.

AI, wealth concentration, and Anthropic

SBS News says the announcement comes as concerns increase about job losses and wealth inequality linked to artificial intelligence, leading some major tech companies to introduce social responsibility measures. The article notes that the day before Musk's post, Anthropic announced it would place 5% of its stock into a public interest fund to help reduce the labor-market effects of AI progress and create public value. Musk later replied to that post, saying, “I encourage giving stock directly to the public.”

Unanswered questions

The article says Musk has not yet provided key details, including age eligibility, the process for distributing the stock, or how the plan would be financed. SBS News also notes that the article was translated by AI and may contain errors.