Musk to give every child in America a SpaceX share:7.2 crore children in the country, scheme estimated to cost ₹1 lakh crore

The world’s richest businessman, Elon Musk, will gift every child in America one share in his rocket-building company, SpaceX, next year. Musk announced this on his social media platform X on 19 October. However, no information has been provided by Musk or his company on how the process of distributing the shares to millions of children will work. One SpaceX share is currently priced at $146, equivalent to around ₹14,000. Musk to spend ₹1 lakh crore on giving shares to 7 crore children Nearly 7 crore children in the US could be considered eligible for the scheme. SpaceX’s current share price on the stock market is $146, or around ₹14,000. Based on this, Musk’s gift plan would cost a total of $10.2 billion, or approximately ₹1 lakh crore. It is unclear which children will be eligible In his post, Musk referred to “every child in America”, but several questions remain unresolved: Questions over selling or transferring the shares Another major question is how the shares will reach the children. Will the shares be held directly in the child’s name, or will they remain in the parents’ account until the child grows up? The company also did not say whether the child or their parents will be able to sell the shares whenever they want, or whether they can be transferred to someone else’s name. Musk owns 6.42 billion SpaceX shares, valued at ₹80 lakh crore According to a regulatory filing as of 30 June 2026, Musk holds a total 48.4% stake in SpaceX. At the time of the report, this stake was valued at around $860 billion, or approximately ₹80 lakh crore. Musk says more announcements are on the way In his post, Musk said this was only the first of several plans. This makes it clear that he could make some more major announcements in the coming days. However, he did not provide any timeline for what his other plans are or when he will reveal them. How do minors receive shares? In the US, custodial accounts are opened to hold shares in the names of children under 18. The parents or guardians retain full responsibility for the account until the child comes of age. SpaceX: Transforming the Space Sector Through Reusable Rockets Elon Musk founded SpaceX in 2002. On 31 May 2020, SpaceX launched the world’s first private human space mission. Under the mission, two astronauts-Robert Behnken and Douglas Hurley-went into space. Musk’s company has developed reusable rocket technology, making satellite launches and other space missions cheaper.