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Why SpaceX Is Giving Kids Stock
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SpaceX CEO Elon Musk on Monday pledged to give each child in the U.S. one share in the company, an allocation worth about $10.5 billion based on Friday's closing price. Musk holds a personal stake in the aerospace juggernaut worth about $4.8 billion, but has not explained the mechanics of the giveaway, which he said would happen "next year." President Donald Trump later said in a social media post that the SpaceX stock would be distributed "through Trump Accounts," the child investment accounts the White House launched this year.