Elon Musk’s proposed SpaceX stock giveaway would go into ‘Trump Accounts’
The White House said 60 million of the tax-advantaged accounts for kids were created automatically in October.
The White House said 60 million of the tax-advantaged accounts for kids were created automatically in October.
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Image: Cath Virginia / The Verge, Getty Images
is a senior reporter covering technology, gaming, and more. He joined The Verge in 2019 after nearly two years at Techmeme.
President Donald Trump announced this afternoon that Elon Musk’s SpaceX shares for children will be given through Trump Accounts. Musk said earlier today that he would give one of his SpaceX shares to “every kid in America” sometime next year. Musk had thanked Trump Account booster Brad Gerstner for “helping enable this,” and Trump appeared to confirm the plan in a post on Truth Social.
Given the value of SpaceX’s stock on Friday, 72 million shares would be worth approximately $10.5 billion, according to CNBC. “This will be the first of many,” Musk said.
Michael and Susan Dell, Ray and Barbara Dalio, Gerstner, and SpaceX president Gwynne Shotwell have all also promised contributions to Trump Accounts. In October, the White House said that after automatically enrolling some 60 million children, over 70 million accounts had been created.
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