27 minutes ago
- copy link
US President Donald Trump has thanked Elon Musk for gifting a share of SpaceX to every child in America. Yesterday i.e. on October 19, Musk had said that next year he will gift a share of his rocket manufacturing company SpaceX to every child in America. This announcement comes ahead of the mid-term elections in the US on November 3.
Posted on X and wrote- Many thanks to friend Elon Musk.
A big thank you to our great friend Elon Musk for his generosity in announcing the distribution of SpaceX shares to millions of American children through ‘Trump Accounts’! That’s exactly what was in mind when we created ‘Trump Accounts’.
Bringing together great private sector leaders, Elon and so many others, to invest in our children, our greatest and most important assets, and to give every American child a part of the ‘American Dream’. Thank you Elon! President Donald J. Trump
Rs 1 lakh crore will be spent on this
Currently the price of one share of SpaceX is 146 dollars i.e. about 14 thousand rupees. There are about 72 million children in America. In such a situation, the value of shares to be distributed will be Rs 1 lakh crore.
However, what will be the process to reach it to crores of children? At present, no information has been given by Musk or his company.
Discussion on political impact of Musk’s announcement, mid-term elections on November 3
1. Musk is helping Trump’s party
Mid-term elections are to be held in America on 3 November 2026. Of these, Musk has spent about $366 million to help the Republican Party.
In such a situation, the political impact of his big announcement is being discussed. But there is no evidence that Musk has made this announcement to take advantage in the elections.
On the other hand, SpaceX President Gwynn Shotwell and her husband have also promised to give SpaceX shares in the accounts of more than 20 lakh children. Musk’s announcement also came during this time.
2. Trump government will also put money in the accounts of children
The Trump government has also started accounts for children named ‘Trump Accounts’. Under this, the government will deposit a lump sum of $ 1,000 in the accounts of children who fulfill the prescribed rules. Children born between January 1, 2025 and December 31, 2028 will get the benefit of the scheme.
It is not clear which children will be eligible
Musk has talked about ‘every child of America’ in his post, but there are many complications in this:
- Citizenship: It is not clear whether the shares will be given only to those children who have American citizenship, or whether other children living in America will also be included.
- Age: Musk has not specified any age limit. Will newborn babies also get shares?
- Verification: What documents will the parents have to submit, form to fill or some other method for the child? No information has been given on this yet.
Questions on selling or transferring
Another big question is how the shares will reach the hands of the children. Will the shares be held directly in the child’s name, or will it remain in the parent’s account until the child grows up?
The company also did not tell whether the children or their parents would be able to sell this share whenever they want, or whether it could be transferred to someone else’s name or not.
Musk has 6.42 billion shares in SpaceX, value ₹80 lakh crore
According to a regulatory filing as of June 30, 2026, Musk’s total stake in SpaceX is 48.4%. At the time of the report, the total value of this stake was around $860 billion i.e. around Rs 80 lakh crore.
Musk said – will announce more in future
Musk said in his post that this is just the first of many plans. It is clear from this that he can make some more big announcements in the coming days. However, he has not given any timetable as to what his remaining plans are and when he will announce them.
How do minors get shares?
In America, ‘custodial accounts’ are opened in the name of children under 18 years of age to hold shares. In this, the entire responsibility remains with the parents or guardian until the child attains adulthood.
Space sector changed through reusable rockets
In 2002, Elon Musk formed the Space-X company. Space-X launched the world’s first private human mission on May 31, 2020. Under this mission, two astronauts – Robert Behnken and Douglas Hurley went to space. Musk’s company has made satellite launching and other space missions cheaper by developing reusable rocket technology.
Source link
[ad_3]
