Trump thanks Musk for pledge to give SpaceX shares to American children through 'Trump Accounts'

US President Donald Trump thanked Elon Musk for pledging to give SpaceX shares to American children, in a post on Truth Social at 8:41pm GMT on Monday 19 October (4:41pm Monday, Washington time). He posted the same message on X at 9:24pm GMT.

“A BIG THANK YOU to our legendary friend, Elon Musk, 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 — Bringing together the GREAT PRIVATE SECTOR, Elon and so many more, to invest in our children,” Trump wrote.

Post by Donald Trump on X, 19 October 2026, 9:24pm GMT

On Monday, Musk wrote on X: “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.” CNBC reported there were 72 million children under 18 in the US as of July 2025, according to census data, and estimated the gift at about $10.5 billion based on SpaceX’s closing share price on Friday. Musk did not say how the shares would be handed out; Bloomberg reported he has agreed in principle to distribute them through Trump Accounts.

Trump Accounts are tax-advantaged savings accounts for children created under the 2025 tax and spending law. Under Treasury rules published in September, eligible children are enrolled automatically from about 1 October 2026, and the accounts can receive donated shares.

Brad Gerstner, founder of Invest America, called it “the largest philanthropic gift in history” in a post on X, CNBC reported. CNBC said it had asked SpaceX and Musk’s family office for details.

Musk’s pledge followed Anthropic’s announcement that it would put 5% of its shares into a public benefit fund. See also: Anthropic to put 5% of its shares into a new ‘Public Benefit Fund’