Elon Musk pledges SpaceX share to every US child; Trump responds
Elon Musk has announced plans to give every child in the US a share in SpaceX, drawing praise from former President Donald Trump.
Key Takeaways
AIAs technology companies face increasing scrutiny over their impact on society, Elon Musk, CEO of SpaceX, has announced he will grant every child in the United States a share in his aerospace and artificial intelligence company, which is valued at around $2 trillion.
Musk, known as the "world's richest person," wrote on his X platform account: "Next year, I will give one of my SpaceX shares to every child in America. This will be the first of many steps to come."
View the post on X
It is noteworthy that SpaceX began public trading in June, following the largest initial public offering in history, with shares closing at about $146 on Friday.
Musk did not provide specific details about his proposal; it remains unclear how these shares would be distributed among tens of millions of American children, or whether all would be eligible.
According to the US Census Bureau, there are about 73 million people under the age of 18, meaning the value of this initiative, based on SpaceX's current share price, could reach approximately $10.7 billion.
The idea of giving young people a stake in the US stock market is not new; this month, the US Treasury Department automatically enrolled millions of children under 18 in "Trump Accounts," a new savings and investment tool. Children born between the start of 2025 and the end of 2028 are eligible for a one-time $1,000 government contribution.
Former President Donald Trump praised Elon Musk after his pledge to give one SpaceX share to every US child next year, thanking Musk and describing the announcement as "incredible generosity."
Trump noted that SpaceX shares would be distributed through "Trump Accounts," investment accounts for American children launched by his administration this year.
Writing on his social media platform, Trump said: "This is exactly what we envisioned when we created Trump Accounts—bringing together the great private sector, Elon, and many others to invest in our children, who are by far our greatest and most important asset."