These accounts will facilitate Elon Musk's plan to distribute one personal share of SpaceX to every American child in 2027. The gift is estimated at $10.5 billion based on a $146 per share price, though experts like Julie Hyman warn that donating specific stocks can create conflicts of interest. Scott Bessent stated that over $8 billion has already been deposited into these youth accounts, which follow a broader trend of tech rivals, including Anthropic, allocating equity for public benefit.
Tuesday, October 20, 2026
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Trump Accounts May Add 100 Million Adults to Musk SpaceX Giveaway
US Politics7 hours ago
The U.S. government is evaluating a plan to allow all citizens under 40 years old to open specialized investment accounts for wealth building. This eligibility expansion would add roughly 100 million adults to the existing pool of 70 million children and 3.5 million annual newborns, reports the New York Post. Brad Gerstner, who is spearheading the effort, indicated that current pledges from billionaire donors are only the 'tip of the iceberg' for the initiative's growth.
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