Elon Musk announced plans to distribute one SpaceX share to every child in America by 2027, a donation valued at over 10 billion dollars.
We look at the details behind the announcement and what remains unconfirmed about its implementation.
The announcement came hours after artificial intelligence company Anthropic pledged to put 5% of its shares into a new public benefit fund. Musk responded publicly by suggesting the shares be distributed directly to citizens, and shortly after released his own plan.
There are more than 70 million children under the age of 18 in the United States. Musk himself owns around 849 million Class A shares and over 5,5 billion Class B shares in SpaceX.
It has not been specified exactly how it intends to implement the distribution, although it has said it wants to give the shares directly to the public. It is noted that President Donald Trump has set up bank accounts for children through the Treasury Department that can receive shares.
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Elon Musk promised to give one SpaceX share to every child in America by 2027
To date, Musk's philanthropic activity has been conducted almost exclusively through his foundation, which is the fifth-largest private charity in the U.S. Research has shown that the majority of the money went to entities affiliated with him or his money manager, Jared Birchall.
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