Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk said early Monday that he will provide one of his own SpaceX shares to every child in the U.S. This follows an announcement by Anthropic to set aside 5% of its shares for a fund dedicated to supporting public interest initiatives.
‘First of Many’ Such Moves?
In a post on the social media platform X, Musk announced that he will give one of his own SpaceX shares “to every kid in America” next year. “This will be the first of many,” Musk said in the post.
According to a filing with the Securities and Exchange Commission (SEC) as of June 30, following SpaceX’s IPO, which followed a dual-class share structure, Musk disclosed that he held a 48.4% stake in SpaceX, with his stake comprising 849,494,440 shares of Class A Common Stock where Musk is a trustee, as well as 3,916,980,790 shares of Class B Common Stock.
In addition, Musk also holds 1,302,072,285 shares of restricted Class B Common Stock and 350,000,000 shares of Class B Common Stock that would become issuable upon exercising stock options. Musk did not clarify what shares he would be providing to the children. Musk also holds roughly 85% voting power in the company.
Trump Touts Treasury’s Automatic Investment Accounts
The news comes as President Donald Trump hailed the expansion of the “Trump accounts,” which are tax-advantaged accounts for U.S. citizens under the age of 18. A tax-advantaged account, like a 401(k), is a certain type of account that offers tax-deductible contributions and tax deferrals, or tax-free withdrawals.
Trump said that the Treasury Department had automatically created these accounts for more than 60 million children. The move has brought the nationwide total to nearly 70 million accounts.
The accounts have seen contributions from Dell Technologies Inc.‘s (NYSE:DELL) Michael and Susan Dell, contributing $250 to 25 million children.
In July, SpaceX President Gwynne Shotwell and her husband also pledged one share of SpaceX stock to Trump Accounts for more than two million American children, a gift valued at about $325 million at the time.
Price Action: SPCX shares rose 0.93% to $147.39 during pre-market trading on Monday.
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