SpaceX CEO Elon Musk has pledged to donate shares of his company to American children, a move that has been met with gratitude from former U.S. President Donald Trump. Musk’s announcement, made on social media, stated that he plans to give one SpaceX share to every child in America next year. This initiative is part of the Trump Accounts program, which was launched on July 4 to aid families in building long-term savings for their children.
Under the Trump Accounts 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 being accessible to the beneficiaries once they reach the age of 18. Musk’s contribution is seen as a significant step in helping children gain a financial stake in the country’s future economy.
The announcement by Musk follows a similar commitment from SpaceX President Gwynne Shotwell and her husband, who have pledged shares to over two million children, primarily in Central Texas. These efforts are framed as part of a broader plan to provide future contributions aimed at empowering the younger generation.
Trump expressed appreciation for Musk’s generosity, highlighting the positive impact such contributions could have on American children. This public acknowledgment also signals an improvement in the relationship between Trump and Musk, which had been strained by disagreements over tax and spending policies during Trump’s administration. The two have since been working towards reconciliation, as evidenced by their recent collaborations.