Musk plans SpaceX gift to US children

Elon Musk wrote on X around one a.m. Monday that he planned to give American children stock in SpaceX next year, calling it the first of many donations.

The gift would cost ten point seven billion dollars

Giving one share to each of the estimated seventy two million US children would cost roughly ten point seven billion dollars at SpaceX's closing price of one hundred forty seven dollars ninety two cents on…

Musk's stake would shrink by one point five percent

Musk's four point seven seven billion SpaceX shares were worth about seven hundred six billion dollars at that price, so the gift would reduce his holdings by about one point five percent.

Trump Accounts will handle the transfer

President Donald Trump said the shares would be transferred through Trump Accounts, tax-advantaged investment accounts for eligible American kids launched this summer. Donated shares generally cannot be sold for five years.

“This is exactly what was envisioned when we created TRUMP ACCOUNTS”

Nearly seventy million accounts already created

The White House said nearly seventy million Trump Accounts have been created. Numerous entities have agreed to contribute, including a six point two five billion dollar donation from billionaire couple Michael and Susan Dell.

SpaceX president also pledged shares

In July, SpaceX President Gwynne Shotwell and her husband pledged personal SpaceX shares worth at least three hundred twenty one million dollars, prioritizing lower-income communities.

Alaska's 1978 proposal never happened

In nineteen seventy eight, US Senator Mike Gravel proposed a statewide ownership corporation that would have given Alaskans, including children, stakes in major energy and other business projects. The plan never materialized.

Alaska created a dividend system instead

Alaska instead developed a dividend system drawing on its Permanent Fund, established in nineteen seventy six with oil royalties. It began paying annual cash dividends to eligible Alaskans in nineteen eighty two and continues today.

Eastern Europe's voucher programs had mixed results

Following the Soviet Union's collapse in nineteen ninety one, Central and Eastern European governments used voucher programs to turn citizens into shareholders of former state-owned companies.Many recipients sold vouchers for cash rather than retaining shares.

Kuwait's privatization became a major success

Kuwait privatized Boursa Kuwait, its national stock exchange operator, in twenty nineteen, giving Kuwaitis the chance to buy stakes.