Musk pledges $10bn in SpaceX shares for US children: Who really gains? – Al Jazeera

Musk pledges $10bn in SpaceX shares for US children: Who really gains?  Al Jazeera

The pledge, which Trump says will go through tax-friendly ‘Trump accounts’, comes two weeks before the US midterms. The pledge, which Trump says will go through accounts with his name, comes two weeks before the US midterms. Elon Musk has pledged to give one SpaceX share to every child in the United States next year – a gift that could be worth more than $10bn. “This will be the first of many,” the world’s richest man wrote on X on Monday. About 73 million children under 18 live in the US, according to US Census Bureau data. At Friday’s closing price of $146.03, the pledge would be worth about $10.7bn. President Donald Trump thanked Musk on his Truth Social platform, and claimed the shares would be given to children “through TRUMP ACCOUNTS”, the tax-friendly investment accounts for children created under his signature tax and spending law last year.

The pledge comes two weeks before the November 3 midterm elections. Musk is the biggest known donor in the run-up to those elections, having given more than $276m to Republican groups since July. Musk has not said which children will qualify, when the shares will be handed over, or how. So how might the giveaway work, and who stands to gain? SpaceX, the world’s seventh-largest company, began trading on the Nasdaq in