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Elon Musk Says He'll Give a SpaceX Share to 'Every Kid in America'
Business Insider • • general
Key Points:
- Elon Musk announced plans to give one SpaceX share to every child in the US next year, a gift valued at approximately $10.5 billion based on current stock prices and census data.
- With around 72 million children in the US, this donation would represent about 1.5% of Musk's SpaceX shares, potentially reducing his stake if further giveaways follow.
- Musk did not provide details on eligibility, timing, or the mechanics of the share transfer, leaving questions about implementation unanswered.
- This pledge aligns with a broader movement to provide children with stock market ownership for long-term wealth growth, similar to initiatives like the Trump Accounts and donations from other philanthropists.
- Musk envisions a future of abundance driven by AI and technology, advocating for universal income and suggesting traditional retirement savings may become obsolete.
