🤑 Musk to gift 72 million SpaceX shares to U.S. kids — and still remain richer than Bezos
Elon Musk announced that next year he will give one SpaceX share to every American child under 18. There are about 72 million such children in the U.S., so the gift amounts to 72 million shares worth roughly $10.6 billion. Musk called it “the first of many,” but has not shared details and did not explicitly say the shares would go into Trump Accounts (530A accounts).
After the donation, Bloomberg estimates he would still hold about $908.4 billion — 2.44 times more than Jeff Bezos ($372 billion). Musk currently owns roughly 48% of SpaceX equity and 85% of the voting power. The gift represents only about 1.2% of his current net worth and exceeds the $6.25 billion that Michael Dell and his wife previously donated to accounts for children.
Why not immediately? Part of Musk’s SpaceX shares is locked for 366 days and cannot be traded until June 2027. He is waiting until all of his SpaceX stock becomes available.
Donald Trump backed the move, saying children would get “a piece of the American dream.” Treasury Secretary Scott Bessent noted that about 70 million Trump Accounts have already been created. Musk himself had earlier discouraged donations to these accounts: responding to praise from Ray Dalio, he argued that poverty would disappear in the future and there was no need to save money, because AI and robots would deliver high universal income. The new pledge looks like a shift in position — or a bet that Tesla and SpaceX will rise further over the next year, with new compensation packages adding even more to his wealth.
#ELONMUSK #MuskReportedlyOrderedStarlinkSlowdownInUkraine #TRUMP $TSLA $TSLAB $TRUMP
Elon Musk announced that next year he will give one SpaceX share to every American child under 18. There are about 72 million such children in the U.S., so the gift amounts to 72 million shares worth roughly $10.6 billion. Musk called it “the first of many,” but has not shared details and did not explicitly say the shares would go into Trump Accounts (530A accounts).
After the donation, Bloomberg estimates he would still hold about $908.4 billion — 2.44 times more than Jeff Bezos ($372 billion). Musk currently owns roughly 48% of SpaceX equity and 85% of the voting power. The gift represents only about 1.2% of his current net worth and exceeds the $6.25 billion that Michael Dell and his wife previously donated to accounts for children.
Why not immediately? Part of Musk’s SpaceX shares is locked for 366 days and cannot be traded until June 2027. He is waiting until all of his SpaceX stock becomes available.
Donald Trump backed the move, saying children would get “a piece of the American dream.” Treasury Secretary Scott Bessent noted that about 70 million Trump Accounts have already been created. Musk himself had earlier discouraged donations to these accounts: responding to praise from Ray Dalio, he argued that poverty would disappear in the future and there was no need to save money, because AI and robots would deliver high universal income. The new pledge looks like a shift in position — or a bet that Tesla and SpaceX will rise further over the next year, with new compensation packages adding even more to his wealth.
#ELONMUSK #MuskReportedlyOrderedStarlinkSlowdownInUkraine #TRUMP $TSLA $TSLAB $TRUMP