Musk Is Giving Away $10 Billion in SpaceX Stock—To Your Kids.

Coming into Monday trading, SpaceX stock was up about 8% from its $135 June IPO price. (Marco Bello/AFP via Getty Images)

Key Points

• Elon Musk tweeted that he will give one of his SpaceX shares to every child in America next year.
• The proposed giveaway of roughly 70 million shares is worth an estimated $10 billion at current levels.
• SpaceX will report third-quarter earnings on Tuesday.

SpaceX CEO Elon Musk had an early morning idea on Monday: Every American child should be a shareholder.

“Next year, I will give one of my SpaceX shares to every kid in America,” Musk tweeted at 3:52 a.m. Eastern time. “This will be the first of many.”

There are very roughly 70 million Americans below the age of 18. That number of shares is worth $10 billion at current levels. It also represents a little more than 1% of the six-plus billion SpaceX shares Musk controls.

He is unlikely to be gifting the Class B shares which have 10 votes per share. Musk holds about 850 million Class A shares that he could give away without ceding much control over his company.

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Exactly what shares, when, how, and importantly why the distribution might happen is hard to say. SpaceX didn’t respond to a request for comment.

The altruistic move might be helping shares. SpaceX stock was up 0.7% at $147.06 in premarket trading Monday, while S&P 500 and Dow Jones Industrial Average futures were up 0.5% and flat, respectively.

Shares dropped more than 10% last week amid a broader selloff in technology stocks. The Nasdaq Composite dropped about 4.5%.

The decline comes just ahead of SpaceX’s third-quarter earnings report on Tuesday. Wall Street is looking for earnings per share of 14 cents from sales of $12.9 billion, according to FactSet.

Estimates have been rising since SpaceX’s better-than-expected second quarter earnings report. SpaceX reported sales of $7.8 billion, better than the $6.8 billion analysts projected. Since the report, SpaceX’s third-quarter sales estimate is up about $2.5 billion. The earnings per share estimate is up about six cents.

After the report, SpaceX management will host an earnings conference call at 4:30 p.m. Eastern time. Maybe Musk will address his philanthropic plan on Tuesday.

Write to Al Root at allen.root@barrons.com.

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