Elon Musk, the richest person in the world, announced he will give every child in the United States one share of SpaceX stock next year, totaling over $10.5 billion in value. With approximately 72 million children under 18 in the U.S., each would receive a share currently valued at $146.03, according to SpaceX’s closing stock price on Friday, Fortune.com reported.
Musk, who owns about 4.8 billion SpaceX shares as per an August SEC filing, said in a recent post on X that this giveaway will be the first of many. The 55-year-old entrepreneur’s total holdings, including unvested awards and stock options, amount to 6.4 billion shares. Giving away 72 million shares would reduce his SpaceX stake by only 1.5%, indicating the giveaway would have a minimal impact on his overall ownership.
This pledge aligns with broader efforts to build wealth for American children. Earlier this month, the Treasury Department enrolled millions of U.S. kids in Trump Accounts, a federal savings and investment program that includes a one-time $1,000 government contribution. Musk’s plan to distribute SpaceX shares adds a private-sector dimension to these initiatives, potentially providing long-term financial benefits to the younger generation.
Musk did not provide further details or a timeline for the distribution beyond stating it will occur next year. His current net worth stands at $904 billion, and this stock giveaway represents a small fraction of his SpaceX holdings, underscoring the scale of his wealth and the potential impact of the plan.