Musk pledges SpaceX share for every US child in 2027

Summarised from 2 outlets · Updated 19 Oct, 12:31 · Archive

Elon Musk announced plans to give every child in the United States one SpaceX share in 2027, a move potentially worth over $US10 billion.

Elon Musk announced plans to give every child in the United States one share in SpaceX in 2027. The billionaire posted the pledge on his social media platform X on Monday without providing details on how the plan would be implemented. According to US census data, there are just over 70 million people under the age of 18 in the nation. At SpaceX's current share price, distributing one share to each child would cost more than $US10 billion ($A14 billion).

Musk said the giveaway would be his first initiative of its kind 'of many'. The announcement appears to have been prompted by rival artificial intelligence company Anthropic's move to place 5 per cent of its shares into a fund intended to benefit the public. Musk responded to this on X by writing: 'I recommend giving the shares directly to the public.'

SpaceX shares initially surged following the company's stock market debut in June but have since fallen well below their highs of more than $US200. The stock is now trading below $US150 ($A215), while questions remain about the company's valuation of around $US1.9 trillion. SpaceX's rocket business remains relatively small compared with its market valuation, which largely reflects investor expectations of Musk's promised future success in artificial intelligence.

How it is being reported

• Musk pledges to give SpaceX share for every US childBillionaire Elon Musk has posted on social media that he plans to give every US child one share in his company SpaceX, without providing further details.The West Australian · 19 Oct, 11:55
• Musk pledges to give SpaceX share for every US childBillionaire Elon Musk has posted on social media that he plans to give every US child one share in his company SpaceX, without providing further details.Perth Now · 19 Oct, 11:55

In this story: Elon Musk · SpaceX · Anthropic · OpenAI · xAI · Tesla · United States

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