The proposal follows a public exchange with AI company Anthropic, which recently announced plans to allocate 5% of its shares to a public benefit fund. Musk criticized the move, arguing that companies should distribute equity directly to the public rather than through intermediary funds. While he has not clarified the logistics of the transfer, his comments suggest a departure from his usual reliance on the Musk Foundation for charitable activities.
In section Startups & Technology
Musk Promises SpaceX Stock Gift to Every American Child by 2027
Elon Musk has pledged to distribute one SpaceX share to every child in the United States by 2027. Based on the current company valuation of $146 per share, the giveaway would represent a transfer exceeding $10 billion, accounting for roughly 1% of the billionaire's estimated $1 trillion net worth.
There are more than 70 million children under 18 in the U.S., according to the Federal Interagency Forum on Child and Family Statistics. To fulfill this promise, Musk would need to navigate complex regulatory hurdles, potentially utilizing the Treasury-backed 'Trump Accounts' designed to facilitate stock donations from high-net-worth individuals. Historically, Musk’s philanthropy has been centralized within his private foundation, which has faced scrutiny for directing significant funding toward entities with personal ties to the billionaire and his associates.
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