US President Donald Trump thanks Elon:Says Musk gifts SpaceX shares to American children ahead of November 3 midterm elections

US President Donald Trump thanked Elon Musk for saying he would gift every child in America one share of SpaceX. On 19 October, Musk had said that next year he would gift one share of his rocket-making company, SpaceX, to every child in America. Mid-term elections will be held in the US on 3 November 2026. Posted on X: Many thanks to friend Elon Musk Many thanks to our great friend Elon Musk, who has shown his generosity by announcing, through “Trump Accounts”, that millions of American children will receive SpaceX shares! When we created “Trump Accounts”, this was exactly what we had in mind. Bringing together the great private sector, Elon and many others, to invest in our children, who are our greatest and most important assets, and to give every American child a share of the “American Dream”. Thank you, Elon! President Donald J. Trump ₹1 lakh crore will be spent on this A SpaceX share currently costs $146, equivalent to around ₹14,000. There are around 7.2 crore children in the US. The shares to be distributed will therefore be worth ₹1 lakh crore. However, what process will be followed to distribute them to crores of children? Musk or his company has not yet provided any information on this. Political impact of Musk’s announcement under discussion: Midterm elections on 3 November 1. Musk helping Trump’s party Midterm elections will be held in the United States on 3 November 2026. Musk has already spent around $366 million to support the Republican Party. His major announcement is therefore being discussed for its potential political impact. However, there is no evidence that Musk announced to gain an advantage in the election. Meanwhile, SpaceX President Gwynne Shotwell and her husband have also promised to give SpaceX shares to the accounts of more than 2 million children. Musk’s announcement came during the same period. 2. Trump administration will also deposit money into children’s accounts The Trump administration has also launched accounts for children called ‘Trump Accounts’. Under the scheme, the government will deposit a one-time payment of $1,000 into the accounts of children who meet the prescribed criteria. Children born between 1 January 2025 and 31 December 2028 will be eligible for the scheme. It is unclear which children will be eligible In his post, Musk referred to “every child in America”, but several issues 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 becomes an adult? The company also did not say whether the children or their parents would be able to sell the shares whenever they wished, or whether the shares could be transferred to someone else. Musk owns 6.42 billion shares in SpaceX, valued at ₹80 lakh crore According to a regulatory filing as of 30 June, Musk holds a 48.4% stake in SpaceX. At the time of the report, the total value of this stake was around $860 billion, or approximately ₹80 lakh crore. Musk says more announcements will follow In his post, Musk said this was only the first of several plans. This indicates that he may make some more major announcements in the coming days. However, he did not provide any timetable for what his other plans are or when he will reveal them. How do minors receive shares? In the United States, ‘custodial accounts’ are opened to hold shares in the names of children under the age of 18. The parents or guardians retain full responsibility for the account until the child becomes an adult. Revolutionising the space sector with reusable rockets Elon Musk founded SpaceX in 2002. On 31 May 2020, SpaceX launched the world’s first private human mission. As part of the mission, two astronauts-Robert Behnken and Douglas Hurley-travelled into space. Musk’s company developed reusable rocket technology, making satellite launches and other space missions cheaper.