Elon Musk says he will give SpaceX share to 'every kid in America'

Elon Musk has said he will give every child in America a stake in SpaceX, his $2 trillion aerospace and artificial intelligence company, as tech firms face intensifying scrutiny over their social harms, Report informs via CNN.

"Next year, I will give one of my SpaceX shares to every kid in America," he wrote on X on Monday. "This will be the first of many."

SpaceX only began trading publicly in June (and had the biggest initial public offering in history). The company's shares were trading for about $146 when the market closed on Friday.

Musk's proposal was thin on detail. It is not clear how those shares would be distributed to the tens of millions of American children or whether all of them would even be eligible.

According to the United States Census Bureau, there are roughly 73 million people under the age of 18, making Musk's potential giveaway worth about $10.7 billion at SpaceX's current share price.

Offering young people a stake in the US stock market isn't a new idea. This month, the Treasury Department automatically signed up millions of under-18s to Trump Accounts, a new federal savings and investment vehicle, with children born between the start of 2025 and the end of 2028 eligible for a one-off $1,000 government contribution.

Musk's offer came in response to Anthropic's announcement on Sunday that it will commit at least 5% of its shares - worth $48 billion at the private company's latest valuation - to a "Public Benefit Fund" that will donate money to social causes.