“Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many,” billionaire entrepreneur Elon Musk wrote on X on Monday, October 19.
\n\nThe announcement could put SpaceX stock in the hands of tens of millions of young Americans. But Musk has yet to explain how the proposed giveaway would work, who would qualify or how the shares would be held on behalf of children.
\n\nThe scale of the promise is considerable. Approximately 73 million children under the age of 18 live in the US, according to figures from the US Census Bureau. If all of them were eligible, the distribution would involve tens of millions of shares.
\n\nMusk did not specify an age range for the recipients or provide a timeline beyond saying the giveaway would take place next year. He also did not clarify whether the shares would be transferred directly to children or held in accounts managed by their parents or guardians.
\n\nSpaceX stock rose around 1% in premarket trading on Monday (October 19) following the announcement. Shares of the company closed at $146.03 on Friday, October 16.
\n\nNext year, I will give one of my SpaceX…
Original source: https://www.cnbctv18.com/technology/
