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

Washington (AFP)

Tech billionaire Elon Musk said on Monday that he would give every child in the United States a share in his SpaceX rocket company.

"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.

"This will be the first of many," he said, without providing details about how the scheme would work.

There are around 73 million children under the age of 18 in the United States, according to 2024 data from the US Census Bureau.

Musk owns 38 percent of SpaceX, according to Forbes.

His announcement comes after President Donald Trump promised last month to give every American adult $5,000 if his Republican party retains control of Congress in November's midterm elections.

SpaceX set the record for the largest initial public offering in history, raising $85.7 billion in June.

The company's Starship megarocket reached orbit for the first time in September, a milestone for the rocket central to Musk's Mars ambitions.