Billionaire Elon Musk revealed plans to give one SpaceX share to every American child next year, a massive giveaway worth $10.7 billion.
Billionaire business tycoon Elon Musk has revealed an ambitious plan to distribute free shares of his famous space rocket company, SpaceX, to every child living across the United States of America starting next year.
The massive stock giveaway, which could see over 73 million young Americans under eighteen years old become shareholders in the space firm, is estimated to cost around $10.7 billion, which translates to about 14.27 trillion Naira in Nigerian currency.
The unexpected announcement was made public by the billionaire on Monday, October 19, 2026, through a post on his social media platform, X.
SpaceX, which currently carries a huge company valuation of about two trillion dollars, recently joined the public stock market in June after completing what financial experts called the biggest initial public stock offering in world history.
As of close of trading on Friday, one share of SpaceX stock was sold at approximately $146 on the stock market.
According to recent population figures provided by the US Census Bureau, there are roughly 73 million children under 18 years old residing in the country.
Explaining his personal decision to share part of his wealth directly with young citizens across the country, Elon Musk took to his official social media account to share his promise.
Announcing the sweeping share distribution plan on his X profile, Elon Musk wrote: “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”
The billionaire founder, however, did not give full details or step-by-step instructions on how the free stock giveaway will be done, nor did he explain how the government or his company will verify which children qualify to receive the stock.
Elon Musk made the surprise announcement shortly after an AI company called Anthropic announced that it would set aside 5% of its own company shares, worth about $48 billion, to fund a public welfare fund.
Anthropic explained that the public fund will help support charitable non-profit groups and help cushion the bad effects of AI on human jobs.
Responding directly to Anthropic’s plan to give company shares to non-profit groups instead of normal citizens, Elon Musk advised tech firms to hand over shares straight to everyday people.
Rejecting the idea of giving company shares to middleman organizations, Elon Musk declared: “I recommend giving the shares directly to the public. This is what I will be doing.”
Musk’s stock gift plan comes at a time when the United States government is also trying to encourage young citizens to learn about saving money and investing in business stocks.
The US Treasury Department recently launched a special investment plan called Trump Accounts, where the government gives a one-time gift of $1,000 to eligible children born between 2025 and 2028.
The massive stock distribution promise also comes as major global technology companies face growing questions from governments and the public regarding the safety of AI, job losses caused by modern technology, and the heavy electricity used by big computer data centers.
Investors and parents across America are closely watching to see how Elon Musk will carry out the massive stock distribution next year.
Jennifer Baba is a journalist, international news correspondent, and writer at Moderncrux, where she covers artificial intelligence, fintech, emerging technologies, global politics, and international affairs. Based in Nigeria, she is passionate about transforming complex global developments into clear, engaging stories that inform and inspire readers.
