Musk Said His Kids Wouldn't Automatically Get Company Shares; Now He Promises SpaceX Stock to All US Children

Elon Musk has pledged to give every child in America one SpaceX share in 2027, years after saying he opposed automatically giving his own children company shares if they lacked the interest or ability to manage them.

The proposed giveaway could be worth up to $10.7 billion, based on SpaceX's closing share price of $146.03 on 16 October. However, Musk has yet to specify the eligibility criteria or explain how the shares would be distributed.

Musk Once Questioned Giving Shares to His Own Children

During a May 2023 interview with The Wall Street Journal's CEO Council, Musk said, 'I am definitely not of the school of automatically giving my kids some shares of the companies, even if they have no interest or inclination or ability to manage the company. I think that's a mistake.'

Musk later proposed a nationwide share giveaway. On 19 October 2026, Musk announced his proposed giveaway in a post on X, writing, 'Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.'

Based on SpaceX's current share price, the proposed giveaway could be worth about $10.7 billion for the roughly 73 million Americans under 18. The final value would depend on the number of eligible recipients and the share price when the shares are transferred.

The idea of giving children a stake in the stock market is not new. On 1 October, the US Treasury announced the completion of automatic enrolment for eligible children under 18 in Trump Accounts, tax-advantaged investment accounts. Children born between 1 January 2025 and 31 December 2028 may qualify for a one-off $1,000 government contribution, provided their account is claimed and the eligibility requirements are met.

Musk's SpaceX Stake Puts Giveaway in Perspective

An August Securities and Exchange Commission filing reported that Musk beneficially owned approximately 6.42 billion SpaceX shares as of 30 June 2026, equivalent to 48.4% of the calculated share base. The reported beneficial ownership includes shares held through trusts, restricted shares, and shares issuable upon the exercise of options. A transfer of 72 million shares would equal approximately 1.1% of his reported beneficial holdings.

Additionally, Forbes estimated Musk's net worth at $908.5 billion as of 19 October, according to the publication's billionaire rankings.

Anthropic's $48B Public-Benefit Plan

The announcement followed Anthropic's 18 October plan to commit 5% of its shares to a new Public Benefit Fund, subject to stockholder approval. The potential value of that stake has been estimated at approximately $48 billion, based on the company's reported private valuation.

Anthropic said the fund could support social causes through large donations to non-profit organisations or direct distributions to specific populations. It also identified the potential impact of AI on employment as an area the fund could address.

Musk then responded to Anthropic's announcement on X, writing: 'I recommend giving the shares directly to the public... This is what I will be doing.'

Big Tech Faces Growing Scrutiny

Both offers come as AI companies face growing scrutiny over product safety, the potential impact of automation on employment, and the environmental costs of expanding data centre infrastructure.

In its IPO disclosures, Anthropic warned that advanced AI could pose 'catastrophic or existential risks to humanity,' Reuters reported. The disclosure highlights the risks identified by the company, rather than establishing that such outcomes have occurred.