Elon Musk and Trump keep promising money to Americans…is this even allowed?
In a recent post on Twitter (X), Musk pledged to give every child in the U.S. a share of SpaceX next year.
Next year, I will give one of my SpaceX shares to every kid in America.
This will be the first of many.
— Elon Musk (@elonmusk) October 19, 2026
Musk owns about 6.4 billion SpaceX shares, according to regulatory filings. This is a 48.4 per cent beneficial stake in the company. However, according to a recent government census, the U.S. has 72 million children under 18 years old. And with a current stock price of US$146.03 (C$205), it would mean Musk would need to give away US$10.5 billion worth of shares, which is just a two per cent of his shares. The CEO followed up by saying, “This will be the first of many.”
Recently, AI startup company Anthropic said that it will commit 5 per cent of its shares to a new public benefit with promises to grow an additional 2 per cent for ever 50 per cent increase in the company’s value.
And while it could appear that Musk is competing with Anthropic, but the pledge comes alongside the midterm congressional elections in the U.S. The New York Times reports that Musk has spent US$366 million on the 2026 midterm election to support the Republicans, and this seems like the latest stunt.
Only to be upclassed by U.S. President Trump, who has claimed he will send a US$5000 (C$7,047) to each and every American — this one isn’t nearly realistic.
Source: Globe and Mail
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