WASHINGTON DC- US President Donald Trump has thanked Elon Musk for pledging to give one SpaceX share to every child in the United States, saying the gift would be channelled through the government’s Trump Accounts programme.
In a social media post, Trump described the proposal as an example of private companies and wealthy donors investing in children.
He said the accounts were created to help give young Americans a stake in the country’s economic future.
Musk, the founder and chief executive of SpaceX, announced on Monday that he planned to give one of his company’s shares to every child in America next year.
He called it “the first of many”, but did not publish a detailed plan for how the shares would be distributed.
Musk later agreed with a social media user who suggested the donation could be made through Trump Accounts.
However, neither Musk nor the US Treasury has announced the final terms, including which children would qualify, when shares would be transferred, or how the contribution would be administered.
What Trump Accounts are
Trump Accounts are tax-advantaged investment accounts created under US law for children under 18 who have a Social Security number.
The accounts are held in each child’s name, with a parent or guardian managing them while the child is underage.
The US Treasury says eligible children born between January 1, 2025, and December 31, 2028, can receive a one-time $1,000 government contribution. A parent or guardian must claim the account for the child to receive the seed contribution.
The programme also allows contributions from families, employers and other donors.
In July, the Treasury announced a process for accepting large philanthropic contributions of readily tradable public-company stock, which can then be directed to eligible children’s accounts under the donor’s instructions and government rules.
That mechanism could provide a route for Musk’s proposed gift, but the specifics have not been confirmed.
The accounts currently invest in funds tracking broad US stock indexes, while the Treasury’s new process allows approved stock donations to be contributed to accounts.
The treatment of SpaceX shares under any eventual arrangement has not been detailed publicly.
The potential size of the pledge is substantial.
The Associated Press estimated that one share for each of about 73 million US children under 18 would be worth roughly $10.66 billion, using SpaceX’s share price at the time.
That is an estimate based on the price and number of children, not a confirmed value of a completed donation.
The proposal is directed at American children.
