Musk pledges one SpaceX share to every US child next year

Elon Musk says he will give one SpaceX share to every child in the United States next year, a pledge that could be worth about $10.7 billion. He has agreed in principle to deliver the shares through the federal Trump Accounts program, a person familiar with the matter said.

Elon Musk said on Monday that he will give "one of my SpaceX shares to every kid in America" next year, adding that "this will be the first of many." With roughly 72 million children in the US, according to Census Bureau estimates, the gift would be worth about $10.7 billion at the current share price, Bloomberg reported.

Musk did not say how the shares would be distributed. A person familiar with the matter told Bloomberg that he has agreed in principle to deliver the stock through Trump Accounts, the children's investment accounts created under the tax and spending law President Donald Trump signed last year.

Michael Dell speaks on stage at a technology conference

Trump Accounts can be opened for any American child under 18, and the federal government adds a one-time $1,000 deposit for children born between 2025 and 2028. Trump said in July that he expected Musk to contribute, and after the announcement he thanked him, calling him a "legendary friend" for his "incredible generosity."

Musk is the latest billionaire to back the accounts. Michael and Susan Dell have pledged $6.25 billion, or $250 each for about 25 million children, and Bridgewater Associates founder Ray Dalio has committed funds for children in Connecticut. SpaceX President Gwynne Shotwell and her husband gave SpaceX stock to the accounts of more than 2 million children aged 11 to 17, a gift Trump valued at $325 million.

Musk is the world's richest person, with a net worth above $900 billion according to the Bloomberg Billionaires Index, about $700 billion of it in SpaceX shares. He has floated plans in the past that did not materialize, and he did not respond to a request for details on how the donation would work.

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