Trump thanks Musk for planned SpaceX stock donation to children

Trump responds to Musk's donation plan

PRIMETIMER reports that President Donald Trump reacted to Elon Musk’s plan to give SpaceX shares to American children by describing it as support for the country’s future from the private sector. In a Truth Social post dated October 20, Trump thanked Musk for what he called his “incredible generosity” and tied the idea to the Trump Accounts program, which is designed as a tax-advantaged investment account for children.

Trump's message on Truth Social

Trump’s post said Musk was giving SpaceX stock to “millions of American children” through Trump Accounts. He said this was what he had in mind when the program was created, adding that it was meant to bring together the private sector and other investors to put money toward children. Trump also said the goal was to give every American child a share of the American Dream.

Musk's announcement on X

PRIMETIMER says Musk announced the plan on X on October 19. In his post, Musk wrote that next year he would give one of his SpaceX shares to every child in the United States and said it would be the first of many such actions. The article says Musk made that post after replying to an earlier X message from Anthropic.

Anthropic post and Musk's reply

According to PRIMETIMER, Anthropic had announced that it would set aside at least 5% of its shares for a newly created Public Benefit Fund. The source says the fund would be a wholly owned limited liability company that could make large charitable donations to nonprofits or, in some cases, directly to certain groups, according to the AI company. Musk responded in the comment section by saying, “I recommend giving the shares directly to the public.”

How the Trump Accounts program works

PRIMETIMER reports that the planned donation would be routed through Trump Accounts, which the Treasury Department launched in July. The article says American children under 18 can reportedly open the accounts, and children born between January 1, 2025, and December 31, 2028, would be eligible for a $1,000 federal contribution.

Musk's SpaceX holdings and wealth

The article adds that Musk reportedly owns about 6.42 billion SpaceX shares, representing 48.4% beneficial ownership of the company, according to his Bloomberg Billionaire Index listing. It also says Celebrity Net Worth estimates his current net worth at $908 billion.