Musk: "One SpaceX Share for Every U.S. Child" ... A Generous 14 Trillion Won Pledge

Following Anthropic, AI companies pledge to give back to society
Distributed through Trump Accounts
Also aimed at improving ties with the administration and improving the company's image

Elon Musk, CEO of SpaceX (pictured), has pledged to give one share of the company to each of approximately 72 million children in the United States. The shares would be worth about KRW 14 trillion. Some analysts say Musk made the generous pledge to improve the company's image amid growing public concern about the artificial intelligence (AI) industry.

SpaceX CEO Elon Musk cheers during the inauguration of U.S. President Donald Trump in Washington, D.C., in January last year. AP-Yonhap News Agency

According to Bloomberg and the Associated Press (AP), among other outlets, on Oct. 19 (local time), Musk wrote on his social media platform X, formerly Twitter: "Next year, I will give one share of SpaceX to every child in America," adding, "This will be the first of many things to come." However, no details have been disclosed about how or when the shares will be distributed.

Based on a U.S. Census Bureau estimate that there are about 72 million children under 18 in the United States, Bloomberg estimated that fulfilling the pledge would cost about $10.5 billion (approximately KRW 13.966 trillion). The estimate is based on SpaceX's closing share price of $146.03 on Oct. 16.

The shares are expected to be distributed through Trump Accounts, investment accounts for children introduced by the U.S. administration. Musk is reportedly in principle supportive of distributing shares through these accounts.

The announcement came a day after Anthropic, a generative AI company led by CEO Dario Amodei, said it would contribute 5% of its equity to a public-benefit fund. Anthropic plans to use the fund to address social issues, including the impact of AI adoption on the labor market. Though their approaches differ, both Amodei and Musk have pledged to return some of the wealth generated by the AI industry to society.

The moves come amid growing concerns among Americans about the AI industry. In a joint survey of 2,140 U.S. adults conducted by the Associated Press and the University of Chicago's National Opinion Research Center (NORC) from Sept. 24 to 28, 64% of respondents said AI development was "moving too fast." Twenty-seven percent said it was "about right," while only 8% said it was "too slow."

Some observers have suggested that Musk made the pledge to improve his company's image and strengthen ties with the Trump Administration. Semafor, a U.S. outlet covering politics and business, noted that Musk had not been particularly active in philanthropy despite his vast wealth, and said the pledge could improve public attitudes toward SpaceX and its AI business. He is reportedly to have discussed with the Trump Administration since last summer the possibility of donating shares through children's investment accounts.

Some have also linked the pledge to Musk's long-standing vision of "redistributing wealth in the AI era." Fortune, a U.S. business magazine, reported that Musk has argued that if AI and robots replace a substantial share of human labor, an era could dawn in which everyone enjoys a high income. In an interview last month with China Media Group (CMG), China's state-run broadcaster, he also said, "My prediction is that virtually everyone will have a high income," adding, "It's not even clear whether money will matter in the future."

Meanwhile, SpaceX, led by Musk, went public on the Nasdaq in June. Its share price is now down more than 35% from the high it reached shortly after its listing. Anthropic is also preparing for an initial public offering (IPO) as early as next month.

This content was produced with the assistance of AI translation services.