Musk first describes a universal high income
In a talk with Rishi Sunak at the AI Safety Summit, Musk said AI would make most jobs optional and lead to a universal high income rather than a basic one.
Source: Fortune
UNIVERSAL HIGH INCOME
UNIVERSAL HIGH INCOME
Every hour the reserve pays out a fixed share of what it holds. Creator fees buy UHI back into the same reserve, so the payouts shrink toward a floor instead of running out.
Musk has talked about a universal high income since 2023. On 19 October 2026 he said he will start paying for it out of his own SpaceX shares.
I will give one of my SpaceX shares to every kid in America.Elon Musk on X, 19 October 2026 · TechCrunch
In a talk with Rishi Sunak at the AI Safety Summit, Musk said AI would make most jobs optional and lead to a universal high income rather than a basic one.
Musk posted that universal high income could be paid as checks from the federal government, and argued that AI output would grow faster than the money supply, so it would not cause inflation.
SpaceX went public at $135 per share, a valuation of about $1.77 trillion, and closed its first day near $161. On Solana, tokenized versions of the share went live the same day, including SPCXx from xStocks.
SpaceX president Gwynne Shotwell and her husband pledged one SpaceX share each to more than two million children aged 11 to 17 in lower-income households, worth about $320 million in total.
Musk said that next year he will give one of his own SpaceX shares to every child in the United States, and that this will be the first of many. Around 72 million children would receive a share worth about $146 at Friday's close, roughly $10.5 billion in total and between 1.1% and 1.5% of his stake. No new shares are created, so other shareholders are not diluted. He called it universal high income when a user described it as basic income.
Musk is paying people out of a holding he already owns instead of printing anything new. UHI works the same way on Solana, with one change: the reserve is refilled from trading fees, so it can keep paying after the first six months.
Gives away shares from his own SpaceX stake.
Pays out 10% of the supply that the developer holds, in a public reserve wallet.
No new SpaceX shares are issued, so nobody is diluted.
The supply is fixed at 1,000,000,000. Payouts move existing tokens from the reserve to holders.
Says the first gift will be followed by many more.
All creator fees buy UHI back into the reserve, so there is always more to pay out.
The gift is SpaceX stock, listed as SPCX on Nasdaq.
UHI trades in a pool against SPCXx, the xStocks token that tracks the SpaceX share.
With a 30-day half-life the reserve pays out half of what it holds every month. Without a single buyback, 98.44% of the 100,000,000 UHI reaches holders within six months. Every buyback goes into the same reserve and is paid out on the same curve, so the payouts continue for as long as the coin trades.
100,000,000 UHI, which is 10% of the supply, sits in one public wallet. Tokens only leave it as payouts to holders.
Each hour the reserve sends out 0.0962% of its balance. That rate halves the reserve every 30 days.
Every wallet holding UHI at the hourly snapshot, in proportion to its balance. Liquidity pools, exchange wallets and the reserve itself are left out.
All creator fees are used to buy UHI on the market. The tokens go straight into the reserve and join the hourly payouts.
Enter how much UHI you hold to see what the formula pays you. The result uses the same hourly steps as the reserve.
This is the formula applied to your balance. It assumes your balance and the eligible supply stay the same, and it does not include the payouts you would receive on the UHI you are paid.
No. UHI is an independent memecoin that copies the idea Musk announced on 19 October 2026: paying people out of a holding you already own. Neither Musk, SpaceX nor xStocks is involved.
It puts most of the reserve in holders' hands within six months while never emptying it completely. Month one pays 50,000,000 UHI, month two 25,000,000 and so on. Because the reserve always keeps half, any buyback that lands in it is paid out on the same curve instead of all at once.
About 1,560,000 UHI of the original reserve is left, and the hourly payouts continue from whatever the buybacks have added. If buybacks come in at a steady rate, the reserve settles at a level where it pays out exactly as much as it receives, which means the payouts never stop.
The liquidity pool for UHI is quoted in SPCXx, the token from xStocks that tracks the price of the SpaceX share listed on Nasdaq. Buying UHI means trading against tokenized SpaceX instead of plain SOL.
The reserve is a single public wallet on Solana. Every hourly payout and every buyback is an ordinary transaction that anyone can look up on Solscan.