Elon Musk announces plan to give SpaceX shares to U.S. children
SpaceX founder Elon Musk said he will distribute a share of the company to each child in the United States, while COO Gwynne Shotwell has pledged a separate stock donation for millions of youngsters.
SpaceX founder and chief executive Elon Musk said on X that he intends to give one share of SpaceX stock to every child in the United States starting next year, describing the move as the first of several planned initiatives. > "Next year, I will give one of my SpaceX (SPCX) shares to every kid in America. This will be the first of many," Musk wrote.
Musk did not specify the age range for the distribution. A Bloomberg report suggested that the donations could be facilitated through an entity referred to as Trump Accounts.
SpaceX shares rose about 1% in morning trading on the day Musk made the announcement.
According to recent Census Bureau data, roughly 73 million people under 18 live in the United States, including about 18.5 million children aged four years or younger.
SpaceX chief operating officer Gwynne Shotwell has pledged to donate more than $320 million in SpaceX stock to fund Trump Accounts for over two million children.
The proposals come as the company continues to expand its commercial launch services and develop its Starlink satellite network.