Billionaire entrepreneur Elon Musk has announced plans to give every child in the United States a share in his aerospace company, SpaceX, although he has yet to provide details on how the initiative would be implemented.
“Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on X on Monday, adding that the move would be “the first of many.”
The announcement could affect approximately 73 million children under the age of 18 in the United States, according to 2024 data from the US Census Bureau.
Musk owns about 38 per cent of SpaceX, according to Forbes, making him a major shareholder in the company, which has become a central part of his ambitions to advance space exploration and eventually send humans to Mars.
However, Musk did not explain whether the proposed shares would be transferred directly to children, held in trust until they reach adulthood, or distributed through another arrangement.
The announcement comes amid renewed attention to proposals aimed at distributing wealth or providing financial benefits to Americans. Last month, President Donald Trump promised to give every American adult $5,000 if Republicans retain control of Congress in the November midterm elections.
SpaceX has continued to expand its position in the commercial space industry, with a reported $85.7 billion initial public offering in June, described in the report as the largest in history.
The company also recorded a major milestone in September when its Starship megarocket reached orbit for the first time, advancing efforts to develop the spacecraft central to Musk’s long-term plans for Mars exploration.
Further details about Musk’s proposed share distribution, including eligibility requirements, funding arrangements and the timeline for implementation, have not been announced.
