Elon Musk Promises to Give Every American Child a SpaceX Share as Billionaire Unveils Major Giveaway

South African-born technology billionaire Elon Musk has announced plans to give every child in the United States a share in his rocket company, SpaceX, next year.

Musk made the announcement on Monday in a post on X, where he has 241.5 million followers.

“Next year, I will give one of my SpaceX shares to every kid in America,” he wrote.

“This will be the first of many,” he added, without explaining how the proposed distribution would be organised or providing further details about the initiative.

Around 73 Million American Children Could Be Eligible

According to 2024 data from the US Census Bureau, approximately 73 million people under the age of 18 live in the United States.

Musk did not clarify whether every child would receive a share directly, how eligibility would be determined or what arrangements would be put in place to distribute the shares.

He also did not announce a similar initiative for children in his native South Africa.

Musk’s SpaceX Stake and Personal Wealth

Musk, who is reported to be the world’s richest person, has an estimated fortune of $908.5 billion, according to Forbes’ real-time billionaire rankings.

Forbes reports that he owns approximately 38% of SpaceX, the rocket company behind his ambitions to develop technology for missions to Mars.

The proposed gift would involve distributing shares in the company, although Musk has not disclosed how many shares would be allocated to each child beyond his statement that each would receive one.

Announcement Follows Trump’s $5,000 Promise

Musk’s announcement comes after US President Donald Trump promised last month to give every American adult $5,000, equivalent to approximately R82,300, if Republicans retain control of Congress in the November midterm elections.

Trump’s proposed payment and Musk’s announcement both involve potential financial benefits for Americans, although Musk has not provided details about the arrangements for his proposed share distribution.

SpaceX Sets Record With $85.7 Billion IPO

SpaceX made headlines in June after recording what was reported as the largest initial public offering in history, raising $85.7 billion.

The company has also achieved a significant milestone in its rocket development programme. Its Starship megarocket reached orbit for the first time in September.

Starship is central to Musk’s ambitions to develop the technology needed for future missions to Mars.

Despite announcing his plan to distribute shares to American children, Musk has yet to provide further information about when the initiative will begin or how it will be implemented.