Musk pledges SpaceX shares to every US child in potential $10.7bn giveaway

Washington — Billionaire entrepreneur Elon Musk announced on Monday that he intends to provide every child in the United States with a share in his SpaceX rocket company. In a message on X, Musk, the wealthiest person globally, stated that next year, he will distribute one of his SpaceX shares to each youngster in America. He emphasized that this will be only the beginning of numerous similar initiatives, though he did not disclose further specifics regarding the mechanics of the program.

According to data from the Census Bureau released in 2024, there are approximately 73 million children under the age of 18 residing in the United States. Musk holds a 38 percent stake in SpaceX, as reported by Forbes. His declaration follows President Donald Trump's recent pledge last month to grant every American adult $5,000 if his Republican party secures control of Congress in the upcoming midterm elections of November.

SpaceX set a record by raising $85.7 billion during its largest initial public offering in history, which occurred in June. The company's Starship megarocket successfully reached orbit for the first time in September, marking a significant milestone in Musk's ambitious plans to establish a presence on Mars.