Musk Pledges SpaceX Shares for Children After Anthropic Unveils Fund
Elon Musk promised to give every child in America one of his SpaceX shares in 2027. His announcement came after Anthropic announced a fund designed to share the wealth created by technology in a different way.
On Oct. 18, Anthropic, the company that makes Claude, said it would put 5% of its shares into a new fund for public benefit, if its shareholders approve. Musk made his promise on Oct. 19. His plan would give shares directly to people, while Anthropic's plan would keep shares in a fund owned by the company.
“Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on X. “This will be the first of many.” Earlier, he had responded to Anthropic's announcement by suggesting that shares should go directly to the public.
Musk did not explain how the shares would be given out, which children would qualify or how children would manage their shares. For now, this is a promise, not a detailed plan for distributing the shares.
The giveaway would be worth about $10.5 billion, based on an estimated 72 million American children and SpaceX's closing share price of $146.03 on Oct. 16. The final value would depend on which children qualify and the share price when the shares are transferred. On Oct. 19, SpaceX shares were trading at $148.06, up 1.39%, when the article was published.
Anthropic's proposed fund could grow beyond its starting shareholding. Each time the company's value rises by 50% above a starting level, its board could set aside another 2% of its shares. The company said it would explain the starting value and more details about how the fund will be managed in the coming months.
The fund will be a limited liability company fully owned by Anthropic, not a charity that is exempt from taxes. This structure gives it more choices in how to provide support. Anthropic said it might donate money to nonprofits or give money directly to selected groups of people. The company pointed to the risk that AI could disrupt workers' jobs.
The main difference between the two plans is who owns the shares. Musk wants to transfer ownership directly to individuals. Anthropic would keep its shares in a fund that decides how to share the benefits with others. However, Anthropic's plan could also allow direct payments to people.
Anthropic has already committed $200 million to a separate fund called the Economic Futures Research Fund. Its research plan, published in July, looks at income support for workers who lose their jobs, retraining and ways to help workers share in the financial gains from AI. Possible research topics include giving workers shares in companies and finding ways for communities to receive regular payments from AI infrastructure.
The research plan recognizes that it is unclear how quickly AI will spread or how its benefits will be shared. Anthropic said there is still little real-world evidence about how well ideas such as public ownership of shares and payments from the AI industry would work on a large scale. These plans would also need reliable sources of funding.
Anthropic said that, including earlier promises by its founders and employees, about 20% of its shares would be set aside for public benefit. This figure includes commitments made before the new fund was announced. The new fund itself will start with 5% of the company's shares.