Musk plans to gift a SpaceX share to every American child next year
New Delhi: SpaceX chief executive Elon Musk has announced plans to hand over one share of his aerospace company to every child in the United States next year, calling it the first of several such initiatives.
In a post on X, Musk said, “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”
The announcement comes from the company’s largest shareholder. A recent regulatory filing showed that Musk held 48.4 per cent of SpaceX as of June 30, with ownership of roughly 6.42 billion shares.
His stake includes 849.5 million Class A shares and 3.92 billion Class B shares held through trusts where he is the trustee. Musk also directly owns about 1.30 billion restricted Class B shares and holds rights to stock options covering another 350 million Class B shares.
The billionaire has not revealed how the proposed giveaway would be carried out. Questions remain over who will qualify, when the shares will be distributed, what regulatory approvals may be needed, and whether children will receive the shares directly or through a trust.
SpaceX, which operates rocket launch services, the Starlink satellite internet network and human spaceflight missions, is one of the most valuable private companies in the world.
Musk’s announcement came days after he showcased a new version of Tesla’s Roadster. At a SpaceX facility in Texas, a prototype briefly became airborne after moving along an elevated curved track, prompting comparisons with a flying car.
Videos of the demonstration were later shared by the company on social media. The event marked another attempt by Tesla to revive the Roadster project, which was first announced nearly a decade ago.
(Inputs from IANS)