Elon Musk, the richest person in the world, said that he\u2019ll give every U.S. kid a slice of his SpaceX fortune. And if he follows through on the promise, the entrepreneur would be shelling out over $10 billion to America\u2019s children.<\/p>\n
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\u201cNext year, I will give one of my SpaceX shares to every kid in America,\u201d Musk wrote in a recent X post. \u201cThis will be the first of many.\u201d<\/p>\n
The 55-year-old worth $904 billion currently owns about 4.8 billion SpaceX shares, according to an August SEC filing. (When considering his unvested awards and stock options, the number rises to 6.4 billion.) That means that America\u2019s roughly 72 million children under the age of 18 would each get one share currently worth $146.03, per SpaceX\u2019s closing stock price on Friday. In total, kids in the U.S. would receive a whopping $10.5 billion worth of the aerospace company\u2019s stock. And that eye-popping giveaway would barely dent his holdings\u2014giving away 72 million shares would lower Musk\u2019s SpaceX share count by just 1.5%.<\/p>\n
The serial founder didn\u2019t share more on the timeline or details of his proposed plan. His pledge comes amid a larger push to build wealth for children in America; earlier this month, the Treasury Department automatically enrolled millions of U.S. kids in Trump Accounts, a new federal savings and investment vehicle providing a one-off $1,000 government contribution.<\/p>\n
Yet the billionaire\u2019s own predictions suggest that money\u2014and by extension, the monetary value of SpaceX stock and investments\u2014could become meaningless in the very future these children will inherit.<\/p>\n
Fortune<\/em> reached out to SpaceX for comment.\u00a0<\/p>\nMusk questions if \u2018money will even matter\u2019 in the future\u00a0<\/h2>\n
Musk\u2019s proposal followed right after Anthropic announced plans to commit 5% of its shares to a new \u201cpublic benefit\u201d fund, of which the Tesla founder responded on X, saying: \u201cI recommend giving the shares directly to the public.\u201d His call to distribute shares directly to the public comes amid his predictions that AI could fundamentally reshape the relationship between work, wealth, and money.<\/p>\n
The SpaceX CEO foresees that AI and robots will usher in an \u201cage of abundance\u201d where tech does most of the work, potentially reducing the need for people to earn a living. Everything from childcare to white-collar work will be automated, and Musk has said that tools will make more goods and services available than people would possibly need. Without any humans working conveyor lines or filling up office floors, the concept of money will become moot in an AI future, he believes.\u00a0<\/p>\n
\u201cMy prediction is that there will be effectively universal high income,\u201d Musk said in an interview last month with state-owned China Media Group. \u201cIn fact, it\u2019s not clear to me that money will even matter in the future.\u201d<\/p>\n
While Musk has the most money in the world, he hasn\u2019t pledged to financially back the idea of \u201cuniversal high income.\u201d And even if he split his $904 billion fortune among the 342.9 million people living in the U.S., each person would only receive roughly $2,636. Instead, he believes that the government should step in and distribute money directly to Americans.<\/p>\n
\u201cUniversal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI,\u201d Musk posted to X April of this year.\u00a0<\/p>\n
Earlier this year, Musk also hinted at offloading the vast majority of his fortune before his passing. In response to Musk\u2019s post-wealth society prediction, Nobel economist Daron Acemoglu wrote on X that it\u2019s a prime \u201copportunity to put your money where your mouth is.\u201d\u00a0<\/p>\n
Since money won\u2019t matter in Musk\u2019s eyes, Acemoglu called on the former trillionaire to donate his massive net worth within the next 10 years. Musk responds that he is \u201cactually going to do something along these lines.\u201d<\/p>\n<\/div>\n
#Billionaire #Elon #Musk #hell #give #kid #America #shares #SpaceX #year<\/p>\n","protected":false},"excerpt":{"rendered":"
Elon Musk, the richest person … <\/p>\n","protected":false},"author":1,"featured_media":7076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[828,1177,3776,274,479,1632,4390,1688,991,635,87,4877,5143,2764,27,993,645,2246,2248,109,10180,32,573,91,2320,2972,10181,81,85],"class_list":["post-7075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-ai-agents","tag-america","tag-automation","tag-billionaire","tag-billionaires","tag-chatbots","tag-children","tag-elon","tag-elon-musk","tag-founders","tag-give","tag-hell","tag-kid","tag-kids","tag-money","tag-musk","tag-personal-finance","tag-robotics","tag-robots","tag-savings","tag-savings-accounts","tag-shares","tag-spacex","tag-stock","tag-u-s-economy","tag-united-states","tag-universal-basic-income","tag-wealth","tag-year"],"yoast_head":"\n
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