Elon Musk wants to give millions of American children a small piece of his space exploration empire.
The billionaire announced Monday that he plans to give every child in the United States one share of SpaceX stock next year, a massive giveaway potentially worth more than $10 billion.
Musk shared the news on his social media platform, X, promising, “This will be the first of many.”
The announcement could benefit roughly 72 million children under 18, according to U.S. Census Bureau estimates. With SpaceX shares trading around $150 Monday afternoon, the giveaway would represent one of the largest private wealth distributions to American children.
Still, Musk can afford it.
The SpaceX founder owns nearly five billion shares of the aerospace company, with additional stock options and awards bringing his beneficial ownership stake to 48.4%. Forbes estimated his personal fortune at nearly $934 billion Monday.
Billionaires Look to Share Their Wealth
Musk's announcement follows another major philanthropic commitment from artificial intelligence company Anthropic.
On Sunday, Anthropic announced a public benefit fund backed by 5% of its shares. The company plans to use the fund to address challenges associated with artificial intelligence, including potential job losses and economic disruption.
Anthropic CEO Dario Amodei and five other cofounders have also pledged to donate 80% of their equity holdings.
The announcements reflect growing efforts among some of America's wealthiest technology leaders to direct portions of their fortunes toward public benefits.
SpaceX Shares Could Help Build Children's Savings
Musk's proposal also comes as the federal government expands investment opportunities for children through Trump Accounts.
The tax-advantaged accounts allow families to invest money for children under 18. The federal government has pledged $1,000 for eligible children born between 2025 and 2028.
Dell Technologies has separately committed $6.25 billion to help fund accounts for millions of younger children.
SpaceX President Gwynne Shotwell announced a similar stock donation in July, targeting more than two million children ages 11 through 17 from qualifying households.
SpaceX went public in June at $135 per share, raising nearly $86 billion in what became the largest initial public offering in history.
One major question remains unanswered: How will Musk distribute the shares?
President Donald Trump previously suggested Musk could contribute SpaceX stock through Trump Accounts, but Musk has not announced specific details.
