Elon Musk announced on X that he will give one share of SpaceX to "every kid in America" next year, calling it "the first of many." With SpaceX's latest stock price valuing the donation at approximately $10.5 billion for the 72 million children under 18, this would represent Musk's largest charitable donation to date. Musk, who controls over 6.4 billion SpaceX shares, faces lockup provisions preventing him from selling the bulk of his stock until June 2027. The announcement follows recent criticism of Musk and SpaceX regarding satellite internet restrictions used in battlefield operations against Russia.
Musk has donated over $276 million to Republican groups ahead of the midterms, including a $158 million gift to a Senate super PAC. Despite signing the Giving Pledge, his nonprofit has failed to distribute the minimum required over the past four years. Tech billionaires have recently pledged donations to government-operated children's savings accounts, known as Trump Accounts, which the Treasury Department seeded with $1,000 deposits for children born between 2025 and 2028.
Gwynne Shotwell and her husband committed one SpaceX share to each of over two million children, focusing on lower-income areas in Texas.
Source: New York Times Business · Summarized by HeadlinesBriefing