Elon Musk has announced a plan to distribute one SpaceX share to every child in the United States, following a similar share-commitment announcement by AI firm Anthropic.
ManyPress
ManyPress Editorial
Key facts
- •Elon Musk pledged to give one SpaceX share to every child in the U.S., totaling approximately 73 million shares.
- •The estimated value of the pledge is roughly $10.66 billion based on a closing price of $146.03 per share.
- •Anthropic announced it would commit 5% of its shares to a new public benefit fund, which it plans to grow as the company expands.
- •A poll by The Associated Press-NORC Center for Public Affairs Research found 64% of Americans believe AI is developing too fast.
- •Musk has donated more than $276 million since July to support Republican majorities in the U.S. midterm elections.
SpaceX CEO Elon Musk announced on Monday that he intends to give one of his company's shares to every child in the United States. The pledge, which Musk described as the first of many, was shared on social media in response to an announcement from the artificial intelligence company Anthropic. Musk did not provide specific details regarding how the distribution of these shares would be executed or the timeline for the transfer.
By the numbers
Context of the Share Pledge
The announcement followed a Sunday post from Anthropic, which stated it would commit 5% of its shares to a new entity called the Anthropic Public Benefit Fund. In response to that post, Musk recommended giving shares directly to the public. Anthropic, which is currently planning an initial public offering, operates as a public benefit corporation, a structure intended to balance financial objectives with social impact.
Market Impact and Valuation
Based on the approximately 73 million children under the age of 18 in the United States, the pledge represents a significant commitment. Using the closing price of $146.03 per share from the previous Friday, the total value of the promised shares is estimated at approximately $10.66 billion. SpaceX is scheduled to report its quarterly earnings on Tuesday.
Broader Industry Developments
The pledges arrive amid growing public concern regarding the rapid development of artificial intelligence. A recent poll from The Associated Press-NORC Center for Public Affairs Research indicated that 64% of Americans believe AI development is moving too fast. Industry leaders, including Musk and Anthropic CEO Dario Amodei, have previously discussed the need to slow AI development, though efforts face challenges from global competition and profit motivations.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CBS MoneyWatch, ABC News Technology, Euronews Business.
