Elon Musk, the world's richest person and the founder of SpaceX, has announced plans to give one of his SpaceX shares to every child in the United States in 2027.
Musk shared the announcement in a post on X early Monday. “Next year, I will give one of my SpaceX shares to every kid in America,” he wrote. He also added, “This will be the first of many,” suggesting that he may have plans for more giveaways in the future, according to Business Insider.
SpaceX shares worth $10.5 billion
The proposed giveaway could cover around 72 million children across the United States. At SpaceX's current share price, the shares distributed among these children would be worth approximately $10.5 billion in total, according to Business Insider.
Each SpaceX share is currently worth about $146. The company's shares closed at $146.03 on Friday, October 16, according to Yahoo Finance.
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Elon Musk's SpaceX shareholding
{{/usCountry}}Also read: America's $10 trillion AI data centre boom faces delays, rising costs and investor concerns
Elon Musk's SpaceX shareholding
{{/usCountry}}Musk owns approximately 6.4 billion SpaceX shares, representing just under half of the company. The proposed giveaway would involve distributing shares from his own holdings, although Musk has not explained exactly how he plans to carry it out.
SpaceX was founded by Musk in 2002 and has become one of the world's most valuable private companies. The company operates Starlink, its satellite internet service, and runs rocket-launch and spacecraft programmes, according to Business Insider.
SpaceX giveaway rules remain unclear
Musk has not yet explained how the giveaway would work or which children would qualify. He has also not provided details about how the shares would be transferred, whether children would receive them directly or whether their families would need to complete any formalities.
Trump Accounts and earlier SpaceX pledge
The proposed giveaway comes as the Trump administration promotes its “Trump Accounts” initiative, which provides eligible children with investment accounts and a $1,000 federal seed deposit. The programme covers children born between 2025 and 2028, according to Business Insider.
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SpaceX President Gwynne Shotwell and her husband had previously pledged SpaceX shares for more than 2 million children. However, Musk had not publicly committed to giving away his own shares before his latest announcement.
It remains unclear whether Musk's proposed giveaway will use the existing Trump Accounts programme or operate through a separate system. Musk has not yet announced the final structure or eligibility requirements for the planned 2027 distribution, according to Business Insider.