How much each American child could get if Elon Musk follows through on SpaceX share promise
Elon Musk has pledged to give every child in America a SpaceX share next year, a move which he claims will be the 'first of many' - but how much does it equate to?
The generous commitment comes just days after it was announced that Musk is no longer a trillionaire, after becoming the world's first in June.
His fortune fell below $1 trillion as SpaceX and Tesla shares fluctuated in recent months, but 72 million children are set to receive shares in the tech giants - according to the man himself.
"Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many," he wrote on X, following a dispute with AI company Anthropic over its plans to allocate some of its equity to public benefit initiatives.
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After outlining its plans for the Anthropic Public Benefit Fund, Musk instead urged the business to distribute its shared directly to the public instead.
"I recommend giving the shares directly to the public, this is what I will be doing," he added.
The generous offers come as AI companies face mounting backlash over concerns about the safety of their products and platforms.
But with so many people under the age of 18 in America, certain questions have been raised about the validity of his pledge.
How much would each child get?
Details of the proposal are yet to be confirmed, including which children would be eligible, how the shares would be distributed.
But at it's estimated current market value, shares in Space X are roughly worth around $146, as per ChatGPT.
The AI bot notes that there is a 'key distinction': "This is the estimated market value of the shares he would give away, not necessarily $10.5 billion in cash."
Musk could transfer existing shares that he owns rather than buy new ones.
But offering America's young people a stake in the US stock market isn't a new concept.
Earlier this month, millions of under-18s across America were signed up to Trump Accounts, a new savings initiative for children, with those born between 2025 and 2028 eligible for a one-off $1,000 government contribution.
The money is then invested in low-cost funds tracking the S&P 500, or other broad indexes of US companies, allowing it to grow over time.
Parents, relatives and friends can contribute up to $5,000 annually, subject to the scheme's rules, and future employers can also contribute.
Mia Williams