Elon Musk, the founder of SpaceX, announced on Monday, October 19, 2026, that he plans to gift one share of his company to every American child in 2027. The announcement, made via the social media platform X, is estimated to be worth approximately $10.7 billion (around Rs 1.4 trillion) based on SpaceX’s share price.
According to the US Census Bureau, there are approximately 73 million children under the age of 18 in the United States. SpaceX’s share price closed at $146.03 on Friday, October 16, 2026. Musk’s post also stated, “This will be the first of many,” suggesting further philanthropic initiatives may follow.
Musk’s announcement comes amid growing concerns in the United States regarding the rapid development of artificial intelligence (AI). The AI company Anthropic had announced on Sunday, October 18, 2026, that it would allocate five percent of its shares to a new ‘Public Benefit’ fund. In response, Musk suggested that shares should be given directly to the public.
A recent survey by the Associated Press–NORC Center for Public Affairs Research found that 64 percent of American adults believe AI development is progressing “too quickly.” Last month, prominent figures in the technology sector, including Dario Amodei of Anthropic, Sam Altman of OpenAI, and Musk himself, advocated for slowing down the pace of AI development.
However, efforts to coordinate and control the speed of AI development face challenges due to domestic and international competition, commercial profit motives, and opposition from figures like US President Donald Trump. Musk has been a significant donor in this year’s US midterm elections, spending over $276 million since July to help the Republican Party maintain its majority in Congress.
US President Donald Trump welcomed Musk’s announcement and suggested that the shares could be distributed through ‘Trump Accounts’. The Trump administration launched the ‘Trump Account’ federal savings and investment plan earlier this year, making children born between early 2025 and late 2028 eligible for a $1,000 government contribution.
Trump stated on his social media post, “A BIG THANK YOU to our legendary friend, @ElonMusk, for his incredible generosity in giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS! This is exactly what was envisioned when we created TRUMP ACCOUNTS.” The Treasury Department has also implemented new rules allowing charitable organizations to donate individual stock to children’s Trump Accounts.
Despite these endorsements, Musk has not yet provided further details on how the shares will be distributed. The detailed plan, eligibility criteria, and distribution mechanism for the share giveaway remain unclear. It is also not yet clear whether all American children will be eligible to receive shares.
SpaceX conducted its initial public offering (IPO) in June 2026, with shares priced at $135 and a valuation of $1.8 trillion. By July 2, 2026, SpaceX’s market capitalization exceeded $2 trillion, making it the seventh-largest company globally. On Monday, October 19, 2026, SpaceX’s share price was $147.92, an increase of 1.29 percent from the previous trading session, bringing its market capitalization to approximately $2.06 trillion. In August 2026, Reuters reported that Musk holds a 48.4 percent equity stake in SpaceX, representing approximately 6.42 billion shares or share-related interests.
SpaceX is scheduled to release its third-quarter financial and operational results on Tuesday, October 20, 2026. This report is expected to provide further clarity on the company’s financial health and future plans. Previously, SpaceX President Gwynne Shotwell and her husband had pledged to donate one SpaceX share each to approximately two million children, prioritizing low-income households and children in Texas.
