A few weeks ago, I shared my thoughts on Trump accounts and their potential to reshape the stock market. In that post, I gave a hypothetical example using Michael Dell’s $6.25 billion donation to kids via Trump accounts. I said that Dell could gift shares of his company and instantly make tens of millions of children shareholders in a single company. The ability to give ownership in a single public company to a huge percentage of the population (and restrict their ability to sell) has never existed before in history (as far as I know).

Dell followed through on his pledge and donated $6.25 billion shortly after I wrote that post. But my hypothetical example was proved incorrect. It appears that Dell made his donation with cash. See more about this and his social media posts announcing the donation in this post.

Today, Elon Musk made an announcement. He’s giving shares of SpaceX to every child in America. Here’s his post:

If other wealthy individuals follow this example, we could see an unheard-of transfer of wealth. The ramifications of this aren’t totally clear to me right now, but I do believe this could impact and potentially transform the U.S. stock exchange.

I’ll continue thinking about this and following developments. But my gut tells me that Trump Accounts have created a new mechanism in the stock market, and that’s a big deal.