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Musk pledges SpaceX stock for every American child next year

Elon Musk, head of SpaceX, said Monday he will hand a company share to each child in the country. Critics question whether he will follow through.

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What happened

SpaceX head Elon Musk said Monday that he will give a share of the company to every child in the U.S. next year. Commentators pointed to his history of statements that bear little relation to reality. A later report said the planned gift could carry conditions if he uses Trump Accounts, because new Treasury rules limit when children can sell their shares.

Why it matters

If the gift is routed through Trump Accounts, its terms would be shaped by Treasury rules that restrict when children can sell. That could limit what recipients are able to do with the shares.

Timeline

  1. Oct 19, 4:39 AM ET: Musk said he will give a SpaceX share to every child in the U.S. next year.
  2. Oct 20, 11:17 AM ET: Commentary questioned the promise, citing Musk's record of statements that bear little relation to reality.
  3. Oct 20, 1:10 PM ET: Reports said the donation could come with strings attached if Musk uses Trump Accounts, since new Treasury rules limit when children can sell shares.

Coverage

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