Musk to give SpaceX share to every US child

Musk promises SpaceX share for every American child

Tech mogul Elon Musk said Monday he will give every child in the U.S. one share of SpaceX next year.

© Julia Demaree Nikhinson, Associated Press

“This will be the first of many,” Musk wrote in a post on the social platform X, which he also owns and is technically part of SpaceX.

He did not specify how he plans to go about providing shares in the company, which went public earlier this summer in the biggest initial public offering on record. However, Trump Accounts, the administration’s investment accounts for children, now allow for stock donations.

SpaceX President Gwynne Shotwell previously announced in July that she and her husband were planning to donate stock in the company to Trump Accounts for more than 2 million children, specifically teens who live in lower-income areas near the couple’s home in central Texas.

In late September, the Internal Revenue Service put forward regulations allowing for such stock contributions , suggesting it “will facilitate more donations from eligible donors, and will help create a practical pathway for large-scale private giving.”

The Hill’s Julia Shapero has more here .

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Key business and economic news with implications this week and beyond:

Kevin Hassett, the director of the National Economic Council (NEC), dismissed recent polling Monday, instead arguing the U.S. economy is “in a boom.”

Democratic Sen. Elizabeth Warren (Mass.) on Sunday warned against a merger between Sysco and Restaurant Depot, arguing it could lead to an increase in restaurant prices.

JPMorgan Chase CEO Jamie Dimon said in an interview published Monday that the U.S. economy, while performing well, has to fend off “inflationary” events.

The artificial intelligence firm Anthropic announced it will commit 5 percent of its shares to its new public benefit fund as the industry faces heat over its potential impact on society and the labor market.

Branch out with more stories from the day:

Before, during, after: Outside groups race to counter any election interference by Trump

Outside good-government groups are scrambling this month to secure the midterm results, bracing for the possibility that the Trump administration will interfere in the process to keep Republicans in power.

Business and economic news we’ve flagged from other outlets:

NYSE becomes latest exchange to extend options hours as appetite for around-the-clock trading grows ( CNBC )

Black Caucus Financial Services members back Maxine Waters as panel’s top Democrat ( Politico )

Nasdaq climbs as chip and AI-linked stocks bounce back ( Reuters )

Senate Democrats are quietly floating the ouster of Secretary of Defense Pete Hegseth after the Nov. 3 election as the political price for cooperation on key defense-related issues in the postelection lame-duck session, and they may have some GOP support to shake up the Pentagon’s leadership, according … Read more

Speaker Mike Johnson (R-La.) said Sunday that he warned the White House of “unintended consequences” that could stem from waiving sanctions on Russia. Read more

Opinions related to business and economic issues submitted to The Hill: