Key points
- Anthropic committed 5% of its shares to a wholly owned LLC called the Anthropic Public Benefit Fund on October 18th, 2026.
- Elon Musk replied "I recommend giving the shares directly to the public," then pledged a SpaceX share to every child in America, worth about $10.5 billion.
- Form 4 filings reviewed by InsiderBuying.com show SpaceX (SPCX) insiders sold $52.5 million of stock in 90 days and bought nothing.
Anthropic said on October 18th, 2026, that it is putting a slice of itself into a new entity. "Subject to stockholder approval, 5% of Anthropic's shares will be committed today, with an additional 2% added at the board's discretion for every 50% increase in the company's value above a set baseline," it wrote. The fund is "a wholly-owned LLC, rather than a 501(c)(3) or other format," and its equity may not fund lobbying or political giving.
Elon Musk did not think much of the structure. Replying to Anthropic the same day, he wrote: "I recommend giving the shares directly to the public," and added, "This is what I will be doing."
5% of a company, or 20%
The two figures measure different things. The fund starts at 5%. The "roughly 20%" comes from co-founder Jack Clark, who wrote that "between this and our prior commitments, roughly 20% of all Anthropic equity will be dedicated to the public good." That total also counts the founders' pledge to give away 80% of their own holdings. Only the 5% is committed here, and it needs stockholder approval.
David Sacks, replying to Clark, put it bluntly: "You've put 20% of your equity in an LLC. Whether it serves the public good remains to be seen." Anthropic has not named who controls the fund or who receives from it.
What the Form 4 record shows at SpaceX
Musk argues shares should go straight to the public, not into a holding company. The InsiderBuying.com Form 4 record measures what SpaceX insiders did with theirs: $52,546,493 of selling over 90 days, no buying. Every sale was filed by COO Gwynne Shotwell on one day.
| Date | Insider | Side | Shares | Price | Value |
|---|---|---|---|---|---|
| Sept 22nd, 2026 | Gwynne Shotwell | Sell | 151,844 | $153.95 | $23,376,095 |
| Sept 22nd, 2026 | Gwynne Shotwell | Sell | 145,809 | $153.27 | $22,348,568 |
| Sept 22nd, 2026 | Gwynne Shotwell | Sell | 24,417 | $154.72 | $3,777,788 |
| Sept 22nd, 2026 | Gwynne Shotwell | Sell | 12,500 | $151.15 | $1,889,394 |
| Sept 22nd, 2026 | Gwynne Shotwell | Sell | 7,600 | $151.93 | $1,154,647 |
| April 2nd, 2026 | Elon Musk | Sell | 11,390 | $105.32 | $1,199,595 |
| Total | 353,560 | $53,746,087 |
Shotwell's five lines came to 342,170 shares at an average of $153.57. Musk's own entry is one line: 11,390 shares at $105.32 on April 2nd, 2026. No open-market purchases, Form 4 code P, sit under his name, so we carry no win rate for him. The full Insider Score for SpaceX sits on the premium tier.
Market reaction
CNBC reported SPCX closed at $146.03 on October 16th, 2026, against 72 million US children under 18, putting the pledge near $10.5 billion. At that price the stock trades 4.9% below Shotwell's average sale and 38.6% above Musk's. He held about 4.8 billion shares as of an August 2026 SEC filing.
One share each for 72 million children is roughly 1.5% of the shares he holds outright. Anthropic's is 5% of an entire company, with an escalator on top.
What to watch
Anthropic's 5% needs stockholder approval and named recipients. Musk has given no mechanism or eligibility rule. A stock gift is reportable on a Form 4 under code G; none has been filed at SpaceX. Track real-time insider activity at SpaceX (SPCX) and 9,000+ companies → insiderbuying.com/companies/SPCX
Informational only, not investment advice.