Billionaire entrepreneur Elon Musk has announced plans to give every child in the United States a share in his rocket company, SpaceX, starting next year.
Musk made the announcement on Monday through his X account, promising to distribute shares to millions of American children. However, he did not explain how the programme would work, who would qualify or how the company would manage the distribution.
“Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on X. “This will be the first of many,” he added, suggesting that the planned distribution could form part of a wider initiative, although he offered no further details.
According to 2024 data from the US Census Bureau, the United States has approximately 73 million children under the age of 18. Musk’s proposal would therefore involve a potentially large number of shares, depending on the eligibility rules and how the plan is implemented.
Musk owns 38 per cent of SpaceX, according to Forbes, making him one of the company’s largest shareholders. The announcement raises questions about the financial value of the proposed gifts, the source of the shares and whether the plan would involve direct ownership by children or another arrangement.
The pledge comes weeks after US President Donald Trump promised to give every American adult $5,000 if the Republican Party retains control of Congress in November’s midterm elections. However, Musk did not explicitly link his proposal to Trump’s announcement or explain whether the two initiatives share any objectives.
SpaceX has attracted significant investor interest following its historic initial public offering in June, which raised $85.7 billion, setting a record for the largest IPO in history.
The company is also advancing its space exploration programme through Starship, its giant rocket designed to support Musk’s ambitions of sending humans to Mars.
Starship reached orbit for the first time in September, marking a major milestone in the development of the spacecraft. The rocket forms a central part of SpaceX’s long-term plans to expand space travel and make missions to Mars possible.
Despite the announcement, Musk has yet to release a formal plan outlining how the proposed share distribution will operate. Details about the timing, eligibility requirements, ownership arrangements and the potential value of the shares remain unclear.
The proposal has drawn attention because of its potential scale, but its practical implementation will depend on further information from Musk and SpaceX.