Elon Musk Promises SpaceX Share to Every Child in the US

Following artificial intelligence company Anthropic's public benefit fund announcement, Elon Musk stated that he will give one share of SpaceX to every child under 18 in America next year.

Elon Musk pledged on Monday to give one of his company SpaceX's shares to "every child in America" next year. This offer came a day after artificial intelligence company Anthropic announced on social media that it would transfer 5% of its shares to a new "public benefit" fund.

Responding to Anthropic's post on Sunday, Musk stated, "I recommend giving the shares directly to the public." SpaceX shares closed at $146.03 on Friday, ahead of its quarterly earnings report on Tuesday. Given that there are approximately 73 million children under the age of 18 in the United States, this makes the value of Musk's pledge approximately $10.66 billion.

Anthropic reported that the transferred shares will go to the Anthropic Public Benefit Fund, a new entity within the company. The value of the fund will potentially increase as the shares appreciate. While Musk did not share further details on how the share pledge will be carried out, he added in his post, "This will be the first of many."