Urdu Report Desk
Elon Musk has announced plans to give every child in the United States one share in his space company, SpaceX, next year. Based on the company’s current share price, the proposed distribution would be worth approximately $10.7 billion.
Musk made the announcement on Monday in a post on the social media platform X, saying the plan would begin next year and describing it as the first step in a broader initiative.
SpaceX Shares Valued at $146 Each
SpaceX is valued at approximately $2 trillion, according to the figures cited in the report. At the close of trading on Friday, the company’s shares were priced at around $146 each.
Data from the US Census Bureau indicate that the United States has approximately 73 million children under the age of 18. At the current share price, giving each child one share would amount to approximately $10.7 billion.
Eligibility and Distribution Details Unclear
Musk has not yet explained which children would qualify for the proposed giveaway or how the shares would be distributed.
Further details about the eligibility criteria and implementation process have not been announced, leaving key questions about how the plan would work in practice.
Anthropic Announces Public Benefit Fund
Musk’s announcement follows a decision by artificial intelligence company Anthropic to allocate at least 5% of its shares to a public benefit fund.
Based on the company’s latest valuation cited in the report, the shares earmarked for the fund would be worth approximately $48 billion.
US Expands Children’s Savings and Investment Initiative
The announcement comes as the United States explores ways to introduce children to financial markets and long-term investing at an early age.
The US Treasury Department has recently enrolled millions of children under 18 in a federal savings and investment programme known as Trump Accounts.
Under the programme, eligible children born between the beginning of 2025 and the end of 2028 will receive a one-time government contribution of $1,000.
