Musk pledges to give a SpaceX share to every American child next year

Elon Musk, the billionaire chief executive of Tesla, announced his pledge to grant one share of his space research company, SpaceX, to every child in the United States starting next year.

Musk explained on Monday via the X platform that this initiative represents the first step in a series of future plans and initiatives aimed at enhancing asset ownership and interest in the technology sector among future generations.

Despite the significant buzz the announcement generated in financial and media circles, Musk did not reveal the structural and operational details of the initiative, leaving unspecified the eligibility criteria, age requirements, or the legal and regulatory mechanisms for distributing the shares.

According to current market data and UNICEF statistics, the portion allocated to children under 18, numbering over 74 million, would amount to approximately 0.55% of total shares, with a total value estimated at around $10.8 billion, based on Friday’s closing share price.