Elon Musk Wants Every American Kid to Own a Piece of SpaceX

Over the last few months, being a kid in the US has been profitable. President Trump announced that kids born between January 1st 2025, and December 31, 2028, would be eligible for a $1,000 deposit into a 'Trump Account', formerly known as a 530A IRA account. Now, billionaire Elon Musk is offering American kids a chance at 'free' money.

Musk Tweets This Is 'The First Of Many'

Early Monday morning, Elon Musk on X, posted that he would be offering every kid in the US 'free' money.

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Well, he actually said that he would give every kid in the US a share of one of his companies, SpaceX.

As of Monday, October 19th, morning, shares of SpaceX are valued at roughly $146.

How will it happen? No one is really sure about that.

Trump Accounts: What You Need To Know

Back in July, President Trump announced that Trump Accounts for kids born between January 1st 2025, and December 31st 2028, may qualify for a one-time $1,000 U.S. Treasury contribution. This seed money is not automatic, as a parent or guardian must claim the account and submit the required election.

(You can learn how to claim the account and submit the election here)

Millions of eligible children are automatically enrolled in the system, but a parent or legal guardian must formally claim and activate the account to manage it, make deposits, or request the $1,000 federal contribution.

Dell Family Also Promises To Deposit Money In Trump Accounts

Michael Dell, founder of Dell computers, also pledged $250 to every Trump Account, or roughly 6.25 billion total. The $250 would go to children who are 10 and under (born between 2016 and 2024) and who do not receive the separate $1,000 federal newborn seed program, mentioned above.

Once the account is set up, parents or guardians can contribute up to $5,000 in after-tax dollars each year. Once the child turns 18, it becomes a normal IRA.

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