Trump Says Musk’s SpaceX Share Gift Would Go Through Trump Accounts

SpaceX CEO Elon Musk said he plans to give one SpaceX share to every child in the United States in 2027, and President Donald Trump named Trump Accounts as the proposed route.

At 4:41 p.m. ET (20:41 UTC) on Oct. 19, Trump wrote that Musk was “giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS!” Musk’s one-share pledge came earlier that day.

Musk did not give a distribution date within 2027 or define an age cutoff, citizenship requirement or whether children without Trump Accounts would qualify. The posts also do not identify an eligible donor or a Treasury acceptance agreement for the proposed contribution.

Temporary regulations from the Treasury Department and Internal Revenue Service (IRS), effective Sept. 30, allow qualifying publicly traded stock from domestic companies to be contributed to Trump Accounts. An eligible government or tax-exempt entity must request the contribution. Treasury may approve the request, and the donor and Treasury must enter into a Treasury acceptance agreement. The shares must meet listing and transferability requirements.

After contribution, shares generally cannot be sold or disposed of for five years or until the child’s growth period ends, whichever comes first. Cash invested during a child’s growth period is generally limited to qualifying index funds under the account rules.

As of Oct. 7, close to 70 million Trump Accounts existed; more than 60 million had been created automatically. That figure does not establish how many children would qualify for Musk’s proposed gift, which he said would take place in 2027 without naming a date.