BusinessMonday, October 19, 20261 min read

Elon Musk’s proposed SpaceX stock giveaway would go into ‘Trump Accounts’

By Jay Peters · Via The Verge · Published by Everything Blog

In short

Elon Musk plans to distribute 60 million tax-advantaged SpaceX stock accounts to every child in America, with the first shares going to every child in America. The giveaway would include 60 million tax-advantaged accounts for kids, with SpaceX's stock valued at approximately $10.5 billion. Musk thanked Brad Gerstner for helping make the plan possible and President Trump confirmed the plan in a post on Truth Social. The giveaway would be the first of many.

Key points

The SpaceX stock giveaway is the first of many.: The SpaceX stock giveaway is the first of many.
The giveaway would go to every child in America.: The giveaway would go to every child in America.

Sources checked by our analysis pipeline: 1

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.

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.

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.

Original source: www.theverge.com

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Elon Musk’s proposed SpaceX stock giveaway would go into &#8216;Trump Accounts&#8217;

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Elon Musk’s proposed SpaceX stock giveaway would go into ‘Trump Accounts’