Two of the biggest names in technology announced strikingly different plans this week for sharing their wealth, setting off a debate in Silicon Valley over how companies should handle windfalls from the AI boom.
On Sunday, Anthropic, the artificial intelligence company behind the Claude chatbot, pledged to give 5% of its shares to a philanthropic fund. The fund will be controlled by Anthropic’s own leadership and is expected to support causes aligned with the Effective Altruism movement, a philanthropic philosophy popular among some tech executives.
Hours later, Elon Musk announced a different approach, saying SpaceX would give stock directly to children across the country. “Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on X. According to sources, the donation will be worth nearly $11 billion at current market value and will be distributed through Trump Accounts.
What Are Trump Accounts?
Trump Accounts are a relatively new savings vehicle for American children under 18. Money deposited into the accounts is invested in the stock market, where it can grow until the account holder turns 18. At that point, the funds can be used for things like college tuition, a first home, starting a business, or simply left to continue growing.
Brad Gerstner, founder, chairman and CEO of Altimeter Capital and one of the architects of Trump Accounts, said Musk’s contribution is just “the tip of the iceberg.” Gerstner estimates that private contributions to the accounts could total $100 billion by the end of 2027, as other wealthy donors — including Susan and Michael Dell, Ray Dalio, and Gwynne Shotwell — add their own gifts.
Gerstner also said he is working on legislation that would expand eligibility for Trump Accounts to anyone under 40, potentially within months. The updated accounts could also be used for retirement savings or starting a business, and the legislation would aim to make funding for the program permanent.
“Welfare checks do not compound, but ownership compounds,” Gerstner said. “You don’t help people by creating more dependency.”
“It sucks to not even know how to get in the game… But with these accounts, everyone has a million dollars within their grasp,” he added. “It makes sure every kid has a stake in the economy.”
Two Different Models
Anthropic’s plan differs in that the company’s nonprofit fund — and any direct distributions it might eventually make — would be controlled entirely by Anthropic’s leadership, with decisions about who benefits and how much they receive left up to the company.
Notably, if Anthropic or any other company wanted to distribute shares directly to children or young adults the way Musk has, Trump Accounts are currently the only existing infrastructure built for that purpose. Some companies may be reluctant to associate with a program bearing the former president’s name, particularly ahead of a contested midterm election.
The arrangement has also raised questions about potential conflicts of interest, including whether companies that contribute heavily to the accounts might receive more favorable treatment from regulators on matters like mergers.
Still, supporters argue that giving Americans — young people in particular — a direct financial stake in companies driving the AI economy could help address growing anxiety about automation’s effect on jobs and give people a tangible way to benefit from technological change rather than simply worry about it.
