US billionaire Elon Musk announced on social media platform X on Oct. 19 that next year he will give one share of SpaceX stock he holds to "every child in America," calling it "the first step in a series of actions."
According to Wall Street Journal estimates, there are about 73 million children under 18 in the United States. Based on SpaceX's closing price of US$146.03 on the previous trading day, the shares would be worth about US$10.66 billion (about HK$83.66 billion). SpaceX currently has a market value of US$1.9 trillion.
However, Musk has not yet disclosed the specific eligibility requirements for recipients, how the shares will be allocated, or the implementation timeline. It is also unclear what else the "series of actions" he mentioned will include.
Notably, just one day earlier, AI company Anthropic announced plans to contribute 5% of its shares to a newly established philanthropic fund, saying the proportion could increase further as its valuation grows. Musk responded at the time by suggesting that it "just give those shares directly to the public." Some analysts believe Musk's pledge may carry an element of one-upmanship with Anthropic.
The Wall Street Journal noted that although Musk donated about US$5.7 billion worth of Tesla shares to charity in 2021, not all of his past pledges have been fulfilled. That same year, when the UN World Food Programme called on billionaires to help address global hunger, Musk said he would sell Tesla shares if the organization clearly explained how US$6 billion would solve the problem. The matter later fizzled out.
Bloomberg's Billionaires Index shows that Musk currently has a net worth of about US$904 billion, remaining the world's richest person. Analysts noted that from donating more than US$276 million to midterm elections to now promising to give away shares, whether Musk's pledge will ultimately prove to be a philanthropic gesture or rhetoric aimed at generating attention remains to be tested by time.
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