Elon Musk’s proposed SpaceX stock giveaway would go into ‘Trump Accounts’

Today, President Donald Trump revealed that the shares of Elon Musk's SpaceX designated for children will be distributed through what are known as Trump Accounts. Earlier, Musk announced his intention to give one SpaceX share to every child in the United States in the coming year. He expressed gratitude to Brad Gerstner, a supporter of Trump Accounts, for facilitating this initiative. Trump reinforced this plan in a statement shared on Truth Social.

The White House disclosed that in October, around 60 million tax-advantaged accounts for children were automatically established. This program is part of a broader effort to provide financial benefits to young Americans.

According to CNBC, based on the current market value of SpaceX shares as of Friday, the total worth of 72 million shares would be roughly $10.5 billion. Musk mentioned that this initiative would be "the first of many," indicating his commitment to further similar projects.

Notable figures such as Michael and Susan Dell, Ray and Barbara Dalio, Gerstner, and Gwynne Shotwell, the president of SpaceX, have also pledged their support by promising contributions to the Trump Accounts initiative. The White House reported that following the automatic enrollment of approximately 60 million children, the number of accounts has surpassed 70 million.