The entrepreneur plans to donate one share of his company to every child in the United States by 2027 through the children's investment program known as "Trump Accounts."
US President Donald Trump expressed his gratitude to
entrepreneur Elon Musk after the latter announced his intention to give SpaceX
shares to millions of American children, an initiative that seeks to contribute
to their financial future.
"A BIG THANK YOU to our legendary friend," Trump
wrote, referring to Musk, whom he recognized for his commitment to dedicating
part of his stake in the aerospace company to benefit children.
Musk announced on October 19 that he plans to give one share
of SpaceX to every child in the United States by 2027. If realized, the
initiative could reach around 73 million children and represent a donation
valued at approximately $10.6 billion, based on the share price used in initial
estimates.
Trump noted that the proposal aligns with the purpose of the
so-called Trump Accounts, an investment account program for minors that aims to
foster long-term wealth accumulation through public and private contributions.
The president emphasized the private sector's involvement
and stated that these types of contributions can help more children access
investment opportunities from a young age.