Key facts
- Elon Musk plans to gift SpaceX shares to U.S. children.
- The estimated cost of the gift is $10.7 billion.
- Shares would be transferred through "Trump Accounts."
- Donated shares generally cannot be sold for five years.
- Michael and Susan Dell are donating $6.25 billion for lower-income children.
- Gwynne Shotwell and her husband pledged SpaceX shares worth at least $321 million.
Elon Musk announced on X that he plans to give every child in the U.S. a share of his space company, SpaceX, next year, calling it "the first of many." The move would cost an estimated $10.7 billion, based on SpaceX's closing price of $147.92 on Friday, reducing Musk's holdings by about 1.5%. President Donald Trump stated on Truth Social that the shares would be transferred through "Trump Accounts," tax-advantaged investment accounts launched this summer, with a rule that donated shares generally cannot be sold for five years. The White House reported that nearly 70 million Trump Accounts have been created. Billionaire couple Michael and Susan Dell are donating $6.25 billion for children in lower-income zip codes, and SpaceX President Gwynne Shotwell and her husband pledged personal SpaceX shares worth at least $321 million, also prioritizing lower-income communities.