Gwynne Shotwell, President and COO of SpaceX, will donate over 2 million shares of SpaceX stock to Trump Account holders in December. Children ages 11 to 17 living in ZIP codes with median family incomes of $57,000 or less will each receive one share. Eligible families should receive a notice by Monday.
Shotwell said in an X post that she and her husband are making the gift. She also announced plans for an additional donation in coming weeks to children ages 11 to 17 in military families serving overseas, children in foster care, and children in Texas counties with median family incomes of $90,000 or less.
Parents or guardians can check eligibility through Invest America, a nonprofit advocacy group, and track accounts with the Trump Accounts app.
Trump Accounts, also called 530A accounts, are savings accounts open to any U.S. child under 18 with a Social Security number. Children born from 2025 through 2028 may receive a one-time $1,000 deposit from the U.S. Department of the Treasury.
In October, Elon Musk wrote on X that he plans to give every child in America a share of SpaceX in 2027, potentially through Trump Accounts.
The Treasury Department changed rules at the end of September to allow Trump Accounts to hold individual donated stocks instead of only diversified, low-cost index funds. IRS CEO Frank Bisignano told CNBC that the move to allow stock donations could lead to more large-scale philanthropic gifts.
On October 29, Bisignano announced his own donation to Trump Accounts for eligible children ages 2 to 8 living in his hometown ZIP code, 11234.