Elon Musk announced Monday that he plans to give one share of SpaceX stock to every child in the United States beginning next year, a proposed giveaway that could be worth more than $10.5 billion based on the company’s latest closing price. The billionaire made the announcement on X, saying the initiative would be the “first of many.”

“Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote.

With approximately 72 million to 73 million Americans under the age of 18, the plan would involve distributing tens of millions of shares. SpaceX stock closed Friday at $146.03 per share, putting the potential value of the giveaway at roughly $10.5 billion. Musk has not explained how the shares would be transferred, what age or eligibility requirements would apply, or how minors would manage their investments.

Musk holds a substantial stake in SpaceX, which went public in June in what was described as the largest initial public offering in history. An August filing with the Securities and Exchange Commission put his beneficial ownership at approximately 6.4 billion shares when unvested awards and stock options are included, representing a 48.4% stake in the company.

The announcement follows a separate effort by SpaceX President and Chief Operating Officer Gwynne Shotwell, who pledged more than $320 million in personal SpaceX stock to fund Trump Accounts for more than 2 million children. The accounts were established under President Donald Trump’s administration to encourage long-term savings and investment. Eligible children born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 federal contribution.

Musk’s proposal also came shortly after Anthropic announced that it would commit at least 5% of its shares to a new Public Benefit Fund. Based on the company’s latest valuation, the commitment could be worth approximately $48 billion. Anthropic said the fund could support nonprofit organizations, direct distributions to selected groups and initiatives addressing economic disruptions caused by advances in Super Intelligence.

Musk criticized the approach of directing shares through a dedicated fund, arguing that stock should instead go directly to the public.

“I recommend giving the shares directly to the public,” Musk wrote Sunday in response to Anthropic’s announcement. He later added, “This is what I will be doing.”

If carried out, Musk’s plan would give millions of American children a direct financial interest in SpaceX, allowing them to benefit from potential increases in the company’s value. However, the proposal remains short on practical details, including how the shares would be distributed, how accounts would be established for children, and when the transfers would begin in 2027.