SpaceX CEO Elon Musk has pledged to give SpaceX shares to American children as part of the Trump Accounts program, a move that has earned praise from former US President Donald Trump. Musk announced via social media that he plans to distribute one SpaceX share to every child in America next year, marking the beginning of several planned contributions aimed at enhancing children’s future economic stakes.
The Trump Accounts program, launched on July 4, is designed to help families build long-term savings for children. Under this initiative, the government contributes $1,000 to eligible accounts for children born between January 1, 2025, and December 31, 2028. Parents and other contributors can add up to $5,000 annually, with the funds becoming accessible to beneficiaries when they turn 18.
The pledge by Musk follows an earlier commitment by SpaceX President Gwynne Shotwell and her husband, who promised to donate shares to more than two million children, primarily in Central Texas. This initiative was welcomed by Trump, who emphasized that Musk’s generosity would assist children in gaining a stake in the country’s economic future.
Trump’s expression of gratitude towards Musk also signifies improved relations between the two following a previous public disagreement over tax and spending legislation. The dispute had played out on social media, but recent developments indicate a move towards reconciliation.