Elon Musk has been vocal in his concerns that a declining global birth rate could lead to an eventual population collapse, posing what he calls the greatest threat to civilization.
In his many tweets about the subject, there have been a number of replies that say the current costs of raising children is one of the main reasons why people are deciding to have less today than they did a generation ago.
In an effort to help make it more affordable for his employees, Musk has promised to increase the childcare benefits that are offered at all of his companies – Tesla, SpaceX, The Boring Company, and Neuralink.
Musk didn’t provide specifics on what would change, saying more details would hopefully be announced next month. He did however say the increase would be significant and that he hopes other companies follows his lead.
Musk also noted that his charitable foundation plans to donate directly to families in the future.
Kids are worth it if at all possible. I’m planning to increase childcare benefits at my companies significantly.
Hopefully, other companies do same.
Also, Musk Foundation plans to donate directly to families.
Hopefully, details to be announced next month.
— Elon Musk (@elonmusk) July 8, 2022
According to the 2021 Impact Report published by Tesla earlier this year, the company says they have “outstanding benefits” and that they want them “to exceed standards in the manufacturiing industry.
Some of the parental and “family building benefits” include:
- Fertility Services including IVF, IUI and Egg/Embryo/Sperm Preservations up to $40,000 offered through Kindbody
- Adoption, up to $25,000 offered through Kindbody
- Third-Party reproduction services (donor & surrogacy), up to $25,000 offered through Kindbody
- 16 weeks of Paid Family Leave
- Up to one week of paid time off as a new parent through Tesla Child Bonding. This benefit can be taken following the birth or adoption of a child by an employee, their spouse or domestic partner.
- Six weeks of paid time off for new parents that have worked for Tesla for at least one year (12 consecutive months)
- Disability benefits
- Pay for nine weeks of maternity leave