Elon Musk has announced plans to donate company shares to American children through the Trump Accounts program. The initiative follows a recent move by Anthropic, which allocated 5% of its stock to a new public benefit fund. Musk confirmed his intention to participate in the program after a user suggested that children should own stakes in SpaceX.
Anthropic launched its public benefit fund on October 18, initially committing 5% of its shares. Based on the company's May valuation of $965 billion, this stake is estimated at $48 billion. The fund's board retains the option to contribute an additional 2% for every 50% increase in valuation. Anthropic plans to use these assets for direct payouts and research into AI labor market impacts.
The Trump Accounts program, also known as Invest America, provides eligible newborns with a $1,000 government deposit. According to the White House, the program currently includes 70 million children. Donors can contribute individual stocks to these accounts, though recipients may be required to hold the assets for five years. SpaceX leadership previously utilized this mechanism in July.
While Anthropic is preparing for a stock listing in November, Musk has stated his prediction that SpaceX could eventually reach a valuation of $100 trillion. Musk has not provided a specific timeline, the number of shares to be donated, or a definitive confirmation of the company name involved in his pledge beyond his agreement with the suggestion regarding SpaceX.
