On Monday, Elon Musk revealed his intention to distribute one share of SpaceX to every child in the United States, which he estimates will total approximately 72 million children based on census data. Musk currently holds about 4.8 billion shares of SpaceX, and when including unvested awards and stock options, this figure rises to 6.4 billion, representing a 48.4% stake in the company.
At SpaceX's closing stock price of $146.03, the total value of the shares to be given away amounts to around $10.5 billion. Musk's announcement follows a similar initiative by Anthropic, which plans to allocate 5% of its shares to a public benefit fund.
Musk's comments suggest a growing trend among tech leaders to engage in philanthropic efforts through direct share distributions, potentially reshaping how companies approach corporate social responsibility and public engagement. Further details on the mechanics of the share giveaway have yet to be disclosed, and CNBC has reached out to SpaceX for additional information