Elon Musk has announced plans to give one of his SpaceX shares to every child in America in 2027, a move that could be worth over $10 billion based on current share prices. That's roughly 1% of his $1 trillion net worth.
Musk's idea to give the shares 'directly to the public' suggests a novel approach to philanthropy, though it's unclear how the plan will be executed. President Trump, who Musk helped elect, has set up bank accounts for children that can accept stock donations.
Musk's announcement comes soon after Anthropic promised to put 5% of its shares into a new 'public benefit fund.' In a reply to Anthropic on X, Musk suggested the company should give directly to the public instead. 'This is what I will be doing,' he wrote, announcing his SpaceX share donation.
With over 70 million children under 18 in the US, and Musk owning around 849 million Class A common shares of SpaceX, this move could significantly impact the lives of American children. However, a recent review showed that the majority of the Musk Foundation's donations have gone to entities tied to Musk, raising questions about the effectiveness of his philanthropic efforts.
