US President Donald Trump supported Elon Musk's idea to give every American child a SpaceX share. He wrote about this on his social network Truth Social. This was reported by Qazaqyia.kz citing Kursiv Media.
"A big thank you to our legendary friend Elon Musk for his incredible generosity," Trump thanked.
As the American leader noted, the Trump Accounts program was created for such initiatives, within which investment mechanisms will be available to children.
As foreign media write, Trump publicly stated in an interview with CNBC back in the summer that he counts on Musk's generosity. He cited other technology leaders (such as Michael Dell and Micron's leadership) as examples, who have already committed to contributing billions of dollars to the program's fund.
Earlier, Trump officially thanked SpaceX President Gwynne Shotwell when she allocated company shares worth $325 million for 2 million children from low-income families. Musk's new promise to distribute a share to absolutely every child in the US takes this initiative to the national level.
According to CBS News, it is assumed that the ideal tool for implementing Musk's plan will be the program launched by the Trump government.
According to the rules of the US Department of the Treasury, philanthropists can transfer securities to children's accounts free of charge without paying capital gains tax.
The state program itself automatically covers up to 60 million minor Americans, providing them with starting $1,000 from the state.
Elon Musk himself confirmed that he will begin transferring shares in 2027, adding that this will be "the first step of many such initiatives."