Elon Musk Says He'll Give Away SPCX Stock to American Kids Through Trump Accounts: 'This Will Be the First of Many'

Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk said early Monday that he will provide one of his own SpaceX shares to every child in the U.S. This follows an announcement by Anthropic to set aside 5% of its shares for a fund dedicated to supporting public interest initiatives. ‘First of Many’ Such Moves? In a post on the social media platform X, Musk announced that he will give one of his own SpaceX shares “to every kid in America” next year. “This will be the first of many,” Musk said in the post. Next year, I will give one of my SpaceX shares to every kid in America.This will be the first of many.— Elon Musk (@elonmusk) October 19, 2026 According to a filing with the Securities and Exchange Commission (SEC) as of June 30, following SpaceX’s IPO, which followed a dual-class share structure, Musk disclosed that he held a 48.4% stake in SpaceX, with his stake comprising 849,494,440 shares of Class A Common Stock where Musk is a trustee, as well as 3,916,980,790 shares of Class B Common Stock. Read Also: Elon Musk Says AI And Robots Are The Only Way To Solve America's $40 Trillion Debt Problem — ‘We’re Not Gonna Save Our Way There’ In addition, Musk also holds 1,302,072,285 shares of restricted Class B Common Stock and 350,000,000 shares of Class B Common Stock that would become issuable upon exercising stock options. Musk did not clarify what shares he would be providing to the children. Musk also holds roughly 85% voting power in the company. Trump Touts Treasury’s Automatic Investment Accounts The news comes as President Donald Trump hailed the expansion of the “Trump accounts,” which are tax-advantaged accounts for U.S. citizens under the age of 18. A tax-advantaged account, like a 401(k), is a certain type of account that offers tax-deductible contributions and tax deferrals, or tax-free withdrawals. Trump said that the Treasury Department had automatically created these accounts for more than 60 million children. The move has brought the nationwide total to nearly 70 million accounts. The accounts have seen contributions from Dell Technologies Inc.‘s (NYSE:DELL) Michael and Susan Dell, contributing $250 to 25 million children. In July, SpaceX President Gwynne Shotwell and her husband also pledged one share of SpaceX stock to Trump Accounts for more than two million American children, a gift valued at about $325 million at the time. Price Action: SPCX shares rose 0.93% to $147.39 during pre-market trading on Monday. Read Also: Frank Bisignano Defends Legality of Trump Account Stock Donations Amid Concentration Risk Concerns Check out more of Benzinga’s Future Of Mobility coverage by following this link. Photo courtesy: Shutterstock