Trump Says Musk's SpaceX Shares for Kids Will Go Into "Trump Accounts"

US President Donald Trump announced that the SpaceX shares promised for children by Elon Musk, the billionaire behind the space company, will be given out through "Trump Accounts", an initiative backed by businessman Brad Gerstner. Trump made the announcement in the afternoon, and The Verge describes his post on Truth Social as an apparent confirmation of the plan.

Earlier the same day, Musk said that sometime next year he would give one SpaceX share to "every kid in America". He thanked Gerstner, a booster of Trump Accounts, for "helping enable this".

Size of the gift

According to CNBC, based on SpaceX's stock value on Friday, 72 million shares would be worth about $10.5 billion. Musk added that this would be "the first of many".

What the source does not say

The available portion of the article gives no details on how the shares will reach children's accounts, which children will qualify, or what conditions will apply. It also names several other people, including Michael and Susan Dell, Ray and Barbara Dalio, Gerstner and SpaceX president Gwynne, but the excerpt does not explain their roles. The plan has so far only been announced, with delivery expected next year.