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Posted On: October 19th 2026, 12:17 pm
Billionaire Elon Musk Announces Plan To Give Every American Child A SpaceX Share In Potential $10.7bn( ₦14.27 trillion)Giveaway
Billionaire Elon Musk has revealed plans to distribute shares in his aerospace company, SpaceX, to every child in the United States next year, a move that could involve approximately $10.7 billion worth of stock.
Sharing the proposal on X on Monday, Musk stated, “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”
SpaceX, which is valued at about $2 trillion, entered the public stock market in June following what was described as the largest initial public offering in history. Its shares closed at approximately $146 on Friday.
With about 73 million Americans below the age of 18, according to the US Census Bureau, giving each child one share at that price would amount to roughly $10.7 billion. However, Musk has yet to explain how the proposed giveaway would be implemented or clarify which children would qualify.
His announcement comes amid other efforts to introduce young Americans to investment opportunities. The US Treasury Department recently enrolled millions of children in Trump Accounts, a savings and investment initiative that provides eligible children born between 2025 and 2028 with a one-time $1,000 government contribution.
Musk’s proposal also followed an announcement by AI company Anthropic that it would allocate at least five per cent of its shares, valued at $48 billion based on its latest private valuation, to a Public Benefit Fund.
The initiative is intended to support social causes through donations to non-profit organisations or direct payments to selected groups. Anthropic also indicated that the funds could help cushion the effects of artificial intelligence on employment.
Responding to the company’s plan, Musk declared, “I recommend giving the shares directly to the public. This is what I will be doing.”
Both announcements come as technology companies face mounting questions about AI safety, the possibility of widespread job displacement and the environmental costs of building massive data centres.
Billionaire Elon Musk has revealed plans to distribute shares in his aerospace company, SpaceX, to every child in the United States next year, a move that could involve approximately $10.7 billion worth of stock.
Sharing the proposal on X on Monday, Musk stated, “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”
SpaceX, which is valued at about $2 trillion, entered the public stock market in June following what was described as the largest initial public offering in history. Its shares closed at approximately $146 on Friday.
With about 73 million Americans below the age of 18, according to the US Census Bureau, giving each child one share at that price would amount to roughly $10.7 billion. However, Musk has yet to explain how the proposed giveaway would be implemented or clarify which children would qualify.
His announcement comes amid other efforts to introduce young Americans to investment opportunities. The US Treasury Department recently enrolled millions of children in Trump Accounts, a savings and investment initiative that provides eligible children born between 2025 and 2028 with a one-time $1,000 government contribution.
Musk’s proposal also followed an announcement by AI company Anthropic that it would allocate at least five per cent of its shares, valued at $48 billion based on its latest private valuation, to a Public Benefit Fund.
The initiative is intended to support social causes through donations to non-profit organisations or direct payments to selected groups. Anthropic also indicated that the funds could help cushion the effects of artificial intelligence on employment.
Responding to the company’s plan, Musk declared, “I recommend giving the shares directly to the public. This is what I will be doing.”
Both announcements come as technology companies face mounting questions about AI safety, the possibility of widespread job displacement and the environmental costs of building massive data centres.
Comments (111)
an hour agoaugustusmakav
Gullible Nigerians believing every scam once it’s coming from a billionaire!
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