• Elon Musk said he's going to give every child in the US a share of his space company, SpaceX.
• That would amount to $10.7 billion, based on SpaceX's stock price and the 72 million US children.
• Governments and billionaires have previously explored ways to spread corporate ownership.

Christmas came early: Elon Musk wants American children to own stock in his space company, SpaceX, next year.

Musk wrote on X around 1 a.m. Monday that he planned to make the donation next year — "the first of many," he said. SpaceX went public this summer.

Giving one share to each of the estimated 72 million US children would cost roughly $10.7 billion at SpaceX's closing price of $147.92 on Friday. Musk's 4.77 billion SpaceX shares were worth about $706 billion at that price, so the gift would reduce his holdings by about 1.5%.

President Donald Trump said on Truth Social on Monday that the shares would be transferred through Trump Accounts, tax-advantaged investment accounts for eligible American kids launched this summer. Under temporary Treasury rules, donated shares generally cannot be sold for five years.

"This is exactly what was envisioned when we created TRUMP ACCOUNTS," Trump said. "Bringing together the GREAT PRIVATE SECTOR, Elon and so many more, to invest in our children."

The White House said nearly 70 million Trump Accounts have been created. Numerous entities have agreed to contribute, including a $6.25 billion donation from billionaire couple Michael and Susan Dell for children in lower-income zip codes. In July, SpaceX President Gwynne Shotwell and her husband pledged personal SpaceX shares worth at least $321 million, prioritizing lower-income communities.

The White House, Elon Musk, and SpaceX did not immediately respond to a request for comment from Business Insider.

Musk's plan to give away SpaceX stock raises questions about a new kind of billionaire philanthropy: Gifting people shares in a company instead of cash.

Giving millions of children a stake in SpaceX could give them money to use later in life — but the value is tied to a single company's stock. And history shows that efforts to spread corporate ownership can yield uneven results, from big investment returns to stakes being sold for quick cash.

Here are other historical efforts to share wealth or spread corporate ownership among everyday people.

US Sen. Mike Gravel's 1978 share proposal to Alaskans

In 1978, US Sen. Mike Gravel proposed a statewide ownership corporation that would have given Alaskans, including children, stakes in major energy and other business projects. The Trans-Alaska Pipeline System was one potential investment.

The idea was that Alaskans would benefit from an economic boom and any rising asset values. However, the plan never materialized.

Alaska instead developed a dividend system that draws on its preexisting Permanent Fund, a state fund established in 1976 with oil royalties that invests in stocks, bonds, and other assets. It began paying annual cash dividends to eligible Alaskans in 1982.

The Permanent Fund still continues today, with a $1,200 dividend distributed to every eligible Alaskan adult and child who applied in 2026. The initial dividend this year was set at $1,000, but recipients also got an extra $200 energy-relief payment.

Eastern Europe's 1990s mass privatization experiment

Following the collapse of the Soviet Union in 1991, several countries in Central and Eastern Europe used voucher programs to transfer former state-owned companies into the hands of everyday people.

Russia began distributing privatization vouchers to roughly 144 million people in 1992. Russians could use them to buy shares in former state companies, exchange them for shares in investment funds, or sell them for cash.

Czechoslovakia used a similar system, allowing adults to buy low-cost voucher books and use the points to bid on company shares or invest through funds. After Czechoslovakia split in early 1993, the Czech Republic continued its voucher program, while Slovakia canceled its planned second wave of voucher privatization.

Other countries, including Poland, Romania, Bulgaria, and the Baltic states, adopted their own versions of mass privatization.

The programs were designed to rapidly create broad public ownership. But many recipients sold their vouchers for cash amid economic uncertainty, rather than retaining shares.

Evžen Kočenda, a professor at Charles University's Institute of Economic Studies, said that the program was a good idea at the time, given the region's poor economy, but that ultimately, the vouchers were not 'real money,' but rather a financial asset.

Kuwait's 2019 national stock exchange privatization

Kuwait privatized Boursa Kuwait, the operator of its national stock exchange, in 2019, and gave Kuwaitis the opportunity to purchase a stake in the company. The only requirement for registration was that the individual was a Kuwaiti citizen.

Those who participated — about 83,000 of the country's 4.4 million — were initially allocated up to 70 shares each. The initial public offering share price was set at 100 Kuwait fils, roughly $0.33 per share.

Following the privatization, Kuwaiti citizens and private-sector investors together owned roughly 94% of Boursa Kuwait. The Public Institution for Social Security held the remaining 6%.

The Kuwaitis who participated saw a huge return on investment: When Boursa Kuwait debuted on the public market in September 2020, its shares rose more than 10-fold from their 100-fils IPO price, closing at 1,055 fils, or about $3.41.

Today, the privatization is widely regarded as a major success in the investment world, and Boursa Kuwait has described it as the Middle East's only privately owned stock exchange.

• After expanding Trump Accounts to all children, the administration may look to adults next.
• We spoke to five experts about what should be in a Trump Account program for adults.
• Accounts should support the millions of Americans who don't have retirement savings, they said.

Trump Accounts, created for children, may be coming to adults, too.

Brad Gerstner, an architect of Trump Accounts, said on Wednesday that the tax-advantaged accounts should be rolled out to every US citizen under 40, though he flagged that Congress would need to pass new legislation to make that happen.

President Trump similarly said on Tuesday that the White House is exploring creating an "alternative" Trump Account for adults.

"We are looking at something different because it really is somewhat of a different thing having to do with adults," Trump said.

So what might that look like? We spoke to five experts about how Trump Accounts could work for adults, who they should be for, and how they could figure into financial planning.

Ray Boshara, a senior policy advisor at the Aspen Institute and Washington University in St. Louis' Center for Social Development, said the accounts could be a boon to the 46% of Americans without money in a retirement account, according to Federal Reserve data.

"I really like the idea of all Americans having a lifelong investment account through which they can build wealth and achieve financial security," said Boshara, who advocated enrolling all American children in Trump Accounts, a change that was rolled out earlier this month.

He sees expanding Trump accounts as an extension of the same push, as long as the accounts are automatically created for those adults, too.

Focus on those without retirement savings

There's a "pretty robust retirement savings system" in place for employees, said Boshara, but nearly half of Americans don't have retirement savings, many because their employer doesn't offer a plan.

Trump Accounts could "fill that huge gap," Boshara said, but unlike the plans for children, it may be worthwhile to focus on those without 401(k) or similar plans.

"One of the benefits of the Trump accounts for kids is that it's universal, but I'm not so sure you'd want it to be universal for an adult," Boshara said. Traditional IRAs already limit tax deductions for some higher earners, and that's a "good thing," he added.

"That way, you're not just giving wealthier Americans yet another tool," Boshara said.

If the goal is to help Americans without retirement, then Boshara's push away from universalism makes sense.

But Cem Karsan, founder of the hedge fund Kai Volatility Advisors, sees this as part of a broader effort to stem the tide of populism by giving regular Americans a greater stake in the stock market.

From that perspective, a universal plan is essential.

"It's essentially the infrastructure that's being laid, the pipes, for delivering ownership broadly to the masses," Karsan said.

For those with retirement accounts, a Trump Account, technically another type of IRA, could allow them to contribute more than the current cap, said Stephanie Link, chief investment strategist at Hightower Advisors.

"There would be an additional layer of tax-deferred wealth accumulation," Link said.

Don't mess with benefits

One of the main concerns with rolling out Trump Accounts to low-income Americans is that they could be kicked off public benefits like food stamps and Supplemental Security Income. This wasn't an issue for children, but many benefits available to adults can be means-tested, and contributing to an account may make you ineligible.

Right now, for traditional IRAs, the rules are a "patchwork," Boshara said. A single person with more than $2,000 in a traditional IRA can lose access to Supplemental Security Income, while Medicaid rules vary from state to state.

"What I'd call for is a categorical disregard," said Boshara, meaning money in the accounts wouldn't count against eligibility for public benefits.

"If you expect low- and moderate-income people to save and build wealth through an IRA, you have to protect their public benefits."

Maybe most importantly, Boshara said these should be a "supplement" for Social Security.

"We never see these as a substitute for Social Security," Boshara said.

Fund them

The most transformative part of the Trump accounts so far has been the $1,000 available to every US citizen born between 2025 and 2028. But Boshara's biggest critique of the program is that families have to open up to receive government payments and employer contributions.

"Opting in is suppressing participation, especially among lower-income families because they don't have the awareness, or they don't interact with the tax system," he said.

He's hoping for Treasury rules that will activate accounts, so contributions can be added automatically, and that the $1,000 funding for newborns be continued indefinitely. And similarly, he's hoping that anyone can put money into adults' funds, like with children.

"The best thing about Trump Accounts for kids is that there are multiple investors in somebody's future," Boshara said. This could even include employer contributions.

"I'm not sure if all employers would contribute, but if they did, it's another savings benefit plan, HSA or 401K type of plan, which is again, more money in their pockets," Link said.

For those who already contribute to their 401(k) and other vehicles, like Roth IRAs, which can be a better fit for early career savers, the outside funding is the big beneficiary, said Christina Taylor, VP of tax development and delivery at tax fintech April.

"For adults saving their own money, a Roth IRA or a 401(k) with an employer match is often still the stronger tool," Taylor said. "Savers should think of a Trump Account as a collector for other people's contributions, not a replacement for retirement accounts they already have."

Treat adults like adults

Current Trump Accounts come with a range of restrictions that keep investors focused on the longer term, including a five-year holding period for individual stocks. That restriction on selling ends when they turn 18, and Boshara said that adults should be able to decide what they want their portfolio to look like.

"You want investor choice," he said. "You want to empower families to make good choices."

Trump Accounts hold only equity investments, so adult versions would require greater diversification.

"A 10-year-old can ride out a bad market, but someone five years from retirement needs some bonds, some cash, and a plan for withdrawals," said Brian Boswell, a wealth manager at Savvy Wealth.

It's a "great idea to make sure all Americans have a lifelong investing account," but the key is to ensure it meets adults' needs, Boshara said.

"Why not extend it and keep the great features of Trump accounts and discard the ones that don't make sense for adults?" Boshara said

• Investor Brad Gerstner wants Trump Accounts expanded to every US citizen under 40.
• The plan would create early IRAs that employers and donors could fund.
• Gerstner, regarded as the architect of Trump Accounts, said the change would require new legislation.

Brad Gerstner, the investor and architect of Trump Accounts, is pushing to expand the investment accounts beyond children and make them available to every US citizen under 40.

In an interview with CNBC on Wednesday, Gerstner said the change would require new legislation rather than a regulatory rule change.

Trump Accounts are tax-advantaged investment accounts created under President Donald Trump’s tax-and-spending law. Right now, they are available to Americans under 18, while children born between 2025 and 2028 are eligible for a $1,000 federal seed contribution.

When account holders turn 18, the accounts become traditional individual retirement accounts, or IRAs.

"Every year, 3.7 million kids age up into IRAs," Gerstner said. "Why not pull forward 20 years of IRAs? We can create all of those today, everybody under 40."

Gerstner's idea would create the accounts for adults under 40 without necessarily requiring the government to make an upfront deposit. Instead, he said, it would give employers, philanthropists and companies a ready-made vehicle through which to contribute.

That structure could allow companies or private citizens to contribute to accounts, he said, creating a "vessel" for the funding.

On Monday, Elon Musk said he planned to give one share of SpaceX stock to every American child through Trump Accounts. Giving a share to the roughly 72 million children in the US would be worth around $11.5 billion, based on SpaceX's share price in Wednesday trading.

Other major donors, including Michael and Susan Dell, Ray Dalio, and SpaceX President Gwynne Shotwell, have also backed the initiative.

Gerstner pointed out there has already been innovation in the investment field, mentioning the federal Saver's Match, created under the bipartisan SECURE 2.0 law, which is scheduled to begin in 2027.

The program will provide a federal match of up to $1,000 a year for eligible low- and middle-income workers who contribute to qualifying retirement accounts.

In comments to the New York Post, Gerstner said he was working on the legislation to make Trump Accounts available to anyone under 40, potentially within months. The proposal could also make account funding permanent.

The proposal's prospects in Congress, including its cost and whether lawmakers would support new matching funds, remain unclear.

• Elon Musk says "money becomes irrelevant" if he's right about what the future holds.
• The Tesla and SpaceX CEO said AI and robots will be better than humans at everything.
• The world's richest man said his fortune could be virtually gone within a few generations.

Elon Musk says money could be meaningless one day, and the vast majority of his wealth will likely be gone within a few generations.

The world's richest person predicted that advances in robotics and space travel will create a multiplanetary economy, at which point "money becomes irrelevant" and "conventional currency will not matter."

Value will be measured in mass and power or energy, he continued. "So that's my guess," he said, adding that it seemed a "pretty obvious" outcome to him.

The Tesla and SpaceX CEO shared his vision of a post-money future and his outlook on his personal fortune with his biographer, Walter Isaacson, on "The Builders" podcast. The interview was taped in early August and released on Tuesday.

Musk recommended earlier this year that people stop saving for retirement in 10 or 20 years, as he expects AI and other technologies to supercharge productivity and usher in an age of abundance where people can have "whatever stuff they want."

He made a similar argument to Isaacson, saying "there won't be anything that humans can do that the AI and the robots can't do better." People will likely turn to hobbies like growing their own fruits and vegetables, or making art, to find purpose in life, he said.

Musk's plans for his own money

Musk, who briefly became a trillionaire after SpaceX went public in June, topped the Bloomberg Billionaire Index at Monday's close with an estimated $920 billion net worth.

He defended his personal wealth on the podcast, saying that it mostly reflects his ownership of SpaceX and Tesla, and he needs large stakes in both companies to retain voting power and remain in charge.

His fortune is "going to be taxed quite heavily," Musk said, adding that there isn't "some magical way to avoid taxes" because "if there were, I would know about it."

Musk said his wealth will "get whittled down and a few generations from now — if money still matters, which I don't think it will — my descendants would have a tiny fraction of what I have."

He also outlined what he hopes his foundation will spend his fortune on after he's gone: "Continue the goals. Make life multi-planetary, extend consciousness to the stars, improve sustainable energy on Earth."

Notably, Musk pledged on Monday to gift a share of SpaceX to every child in the US next year, a contribution worth over $10 billion today.

His announcement has won praise from President Donald Trump, who hailed Musk's "incredible generosity" and labeled him a "legendary friend" in an X post.

Musk teased a charitable pledge in late July after Nobel economist Daron Acemoglu publicly challenged him over his prediction of a post-money future.

"If money won't matter in 2036, why don't you pledge to donate your current wealth of approximately $1 trillion to charity no later than 2036," Acemoglu wrote on X.

"I am actually going to do something along these lines!" Musk responded.

• Elon Musk says he'll give a SpaceX share to every child in the US next year.
• That would be a $10.5 billion gift based on SpaceX's stock price and roughly 72 million recipients.
• Musk said this would be the "first of many" SpaceX share giveaways but didn't offer further details.

Elon Musk says he'll give every child in the US a piece of his space company, a gift worth around $10.5 billion today.

"Next year, I will give one of my SpaceX shares to every kid in America," Musk wrote in an early Monday post on X. "This will be the first of many."

There are roughly 72 million children in the US based on 2025 census data, and SpaceX stock closed at $146 on Friday. If Musk donated 72 million shares right now they would be worth around $10.5 billion.

Musk didn't provide any further details on how the giveaway would work, such as eligibility criteria or specific timing, or whether the shares will be transferred to Trump Accounts.

The Tesla and SpaceX CEO is the world's richest person, with an estimated net worth of $904 billion as of Friday's close, per the Bloomberg Billionaires Index.

SpaceX — the company behind Falcon rockets, Starship launch vehicles, Starlink satellites, the AI chatbot Grok, and X — went public this summer and has a market capitalization of about $2 trillion.

Excluding restricted shares and options, Musk owns 4.77 billion SpaceX shares for about a 36% stake, worth just under $700 billion at Friday's close. The rest of his fortune largely comprises his stakes in his other companies, including Tesla, Neuralink, and The Boring Company.

Donating 72 million shares would reduce Musk's number of SpaceX shares by 1.5%. If, as indicated in his X post, he follows that up with further giveaways, his stake could shrink significantly.

Musk's pledge is part of a broader trend of gifting shares to America's children, aimed at ensuring they all own a piece of the stock market and reap its gains over time, and benefit from a lifetime of compounding wealth.

The Trump administration launched Trump Accounts — tax-advantaged investment accounts — for eligible children this summer, with those born between 2025 and 2028 receiving a $1,000 federal seed deposit. Numerous companies have agreed to contribute to them as well.

Michael and Susan Dell contributed $250 to 25 million American children's Trump Accounts earlier this month, a gift totaling $6.25 billion that was allocated first to those in the lowest-income ZIP codes.

SpaceX President Gwynne Shotwell and her husband pledged in July to give shares of SpaceX to more than 2 million children.

Musk shared his SpaceX gift idea after Anthropic pledged to commit 5% of its shares to a public benefit fund.

"I recommend giving shares directly to the public," he replied on X. "This is what I will be doing."

Another X user described Anthropic and Musk's pledges as "the beginning of universal basic income." Musk corrected him, writing *universal high income."

Musk has predicted that advances in AI, robotics, and other technologies will usher in an age of abundance in which everyone can have "whatever stuff they want."

He's recommended people stop saving for retirement in 10 or 20 years as their nest eggs will be "irrelevant," and has proposed government checks for all as the best response to job losses from AI.

Correction: October 19, 2026 — An earlier version of this story incorrectly described SpaceX as a private company. It went public in June 2026.