Musk says he will give SpaceX share to every child in US

Tech mogul Elon Musk said Monday he will give one of his SpaceX shares to every child in the U.S. next year.

“This will be the first of many,” Musk wrote in a post on the social platform X, which he also owns and is technically part of SpaceX.

He did not specify how he plans to go about providing shares in the company, which went public earlier this summer in the biggest initial public offering (IPO) on record. However, Trump Accounts, the administration’s investment accounts for children, now allow for stock donations.

SpaceX President Gwynne Shotwell previously announced in July that she and her husband were planning to donate stock in the company to Trump Accounts for more than 2 million children, specifically teens who live in lower-income areas near the couple’s home in central Texas.

In late September, the Internal Revenue Service put forward regulations allowing for such stock contributions, suggesting it “will facilitate more donations from eligible donors, and will help create a practical pathway for large-scale private giving.”

The administration said earlier this month that nearly 8 million children already had accounts through the program. It planned to add more than 60 million others through its new auto-enrollment feature.

Kids born between 2025 and 2028 can receive $1,000 in seed money from the Treasury Department. Others can receive funds through a $6.25 billion donation from Dell CEO Michael Dell and his wife, Susan Dell. Their contribution is intended for children who live in ZIP codes with a median family income of $150,000 or less.