On October 19th, renowned American entrepreneur Elon Musk posted on the X platform, stating that next year he will give each child in the United States a share of SpaceX stock. “This is just the first step in a series of future actions.”
According to CNN, SpaceX went public in June this year, setting a record for the largest initial public offering in history. As of Friday's close, SpaceX's stock price was around $146.
According to reports, Musk’s proposal lacks specific details. It is still unclear how these stocks will be distributed to tens of millions of American children, nor is it clear whether they all meet the eligibility criteria.
According to US government data, the population of the United States aged 18 and under is approximately 73 million. Based on SpaceX’s current stock price, the total value of shares that Musk could give away would be about $10.7 billion.
Providing shares in the US stock market to young people is not a new idea. This month, the US Treasury Department automatically created “Trump accounts” for millions of children under 18 years of age. This is a newly established federal savings and investment program. Children born between early 2025 and late 2028 are eligible for a one-time government funding of $1,000.
Before Musk’s latest post, the artificial intelligence company Anthropic announced that it will allocate at least 5% of its shares to a fund called the “Public Interest Fund”. According to the company’s most recent valuation, this portion of shares is worth $48 billion. The fund will provide funding for public welfare initiatives.
Musk said on X that "I suggest directly giving shares to the public... I would do so."
These two proposals come at a time when artificial intelligence companies are facing strong backlash, and concerns about the safety of their products are growing. Tech giants are also under increasing criticism.
