Musk says will give SpaceX share to 'every kid in America'

Why This Matters

Key context: <p>Tech billionaire Elon Musk said on Monday that he would give every child in the United States a share in his SpaceX rocket company.</p> <p>“Next year, I will give one of my SpaceX shares to every kid in America,” Musk, the richest man in the world, said on X.</p> <p>“This will be the first of many,” he said, without providing details about how the scheme would work.</p> <figure class='media w-full w-full media-- media--embed media--uneven media--tweet' data-original-src='https://x.com/elonmusk/status/2112089556615123114'> <div class='media__item media__item--twitter '><span> <blockquote class="twitter-tweet" lang="en"> <a href="https://twitter.com/elonmusk/status/2112089556615123114"></a> </blockquote> </span></div> </figure> <p>There are around 73 million children under the age of 18 in the United States, according to 2024 data from the US Census Bureau.</p> <p>Musk owns 38 per cent of SpaceX, according to <em>Forbes</em>.</p> <p>His announcement comes after US President Donald Trump <a href="https://www.dawn.com/news/2028825">promised last month</a> to give every American adult $5,000 if his Republican party retains control of Congress in November’s midterm elections.</p> <figure class='media w-full w-full media-- media--embed media--uneven media--tweet' data-original-src='https://x.com/FoxNews/status/2097872390076141726?s=20'> <div class='media__item media__item--twitter '><span> <blockquote class="twitter-tweet" lang="en"> <a href="https://twitter.com/FoxNews/status/2097872390076141726?s=20"></a> </blockquote> </span></div> </figure> <p>SpaceX set the record for the largest initial public offering in history, raising $85.7 billion in June.</p> <p>The company’s Starship megarocket <a href="https://www.dawn.com/news/2033300">reached orbit</a> for the first time in September, a milestone for the rocket central to Musk’s Mars ambitions.</p> This development from dawn.com highlights ongoing changes in the sector.