SpaceX President and Chief Operating Officer Gwynne Shotwell and her husband are donating more than 2 million shares of SpaceX stock, with distribution set to begin in December for eligible Trump Account holders. The donation is expected to directly reach about 2 million Americans between ages 11 and 17. Shotwell said affected families are expected to receive notice by Monday.
Donation targets low-income households and selected military families
In a statement posted on X, Shotwell said more than 2 million shares of SpaceX stock will be distributed in December to children’s accounts under the Trump Foundation.
The stock donation applies to children ages 11 to 17 in households earning less than $57,000, as well as holders whose household income cannot be reported to the U.S. Census Bureau because of small population counts. The report says the contribution will be deposited directly into roughly 2 million investment accounts for children ages 11 to 17 living in ZIP code areas where median household income is below $57,000.
Shotwell also said another donation plan will be finalized in a few weeks. That program would cover eligible children ages 11 to 17 who live in counties near Texas where median household income is below $90,000, including military children, foster children, and children from families serving overseas.
Parents or guardians can check eligibility through the nonprofit advocacy group Invest America and track account activity through the Trump Account app.
Treasury changed the account rules in late September
Trump Accounts, also called 530A accounts, are open to all U.S. children under age 18 who have a Social Security number. The report says children born from 2025 through 2028 may also receive a one-time $1,000 deposit from the U.S. Treasury.
In late September, the Treasury introduced a temporary rule allowing Trump Accounts to hold donated individual stocks. Before that change, the accounts were limited to diversified, low-cost index funds.
U.S. officials and Elon Musk have also discussed related stock donations
Frank Bisignano, identified in the report as the head of the Internal Revenue Service, said in a CNBC interview on Oct. 8 that allowing stock donations could open the door to large-scale charitable giving.
The Bisignano Family Fund said Bisignano announced a donation to Trump Accounts on Oct. 29 to support eligible children ages 2 to 8 living in his hometown ZIP code 11234.
Musk also posted on X in October that he plans for every American child to own SpaceX shares by 2027, and the report says those shares could also be distributed through Trump Accounts.
