Elon Musk has pledged to give every child in the United States a share of his SpaceX company next year, in a massive giveaway potentially worth more than $10 billion that has earned praise from President Donald Trump.

The world’s richest man, whose fortune is estimated at around $1 trillion, announced the initiative on Monday, saying it would be the beginning of a broader effort to distribute his wealth. The announcement comes as Musk deepens his political and financial support for Trump and the Republican Party ahead of November’s midterm elections.

“Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on X. “This will be the first of many.”

With approximately 73 million children under 18 in the US and SpaceX shares closing at $147.97 on Monday, up 1.33%, the promised giveaway could be worth around $10.8 billion.

Trump enthusiastically welcomed the announcement, saying the shares would be distributed through government-backed investment accounts established under his administration.

“A BIG THANK YOU to our legendary friend, Elon Musk, for his incredible generosity in giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS!” the president wrote on Truth Social.

Trump said the initiative demonstrated how the private sector could help invest in America’s future and “give every American Child a piece of the American Dream.”

The so-called Trump Accounts are tax-advantaged investment vehicles designed to help children build savings from an early age. Under the program, the federal government provides $1,000 in seed funding for eligible children born between 2025 and 2028, while parents, employers and private donors can make additional contributions.

Musk has not explained precisely how the shares would be distributed, whether the giveaway would cover all minors living in the US or only American citizens, or what additional donations he plans.

The pledge follows an announcement by rival artificial intelligence company Anthropic that it would commit 5% of its equity to a new public benefit fund. Musk responded by recommending that companies distribute shares directly to ordinary people.

Musk and Trump publicly feuded last year over the president’s spending legislation but have since reconciled, with the billionaire emerging as a major financial backer of the Republican midterm campaign. According to the New York Times, Musk has donated more than $276 million to Republican groups since July, bringing his political contributions during the 2025–2026 election cycle to approximately $366 million.