Donated SpaceX shares are scheduled to reach eligible children’s Trump Accounts in December, according to a Friday post on X by company President and Chief Operating Officer Gwynne Shotwell. The gift from Shotwell and her husband, Robert, includes more than 2 million shares, with one share going to each of around 2 million qualifying account holders.
The distribution targets children ages 11 to 17 who live in ZIP codes where median family income is $57,000 or less. Children in ZIP codes with populations too small for the U.S. Census Bureau to report a median family income also qualify. Shotwell said families covered by the gift should receive a notice by Monday, Nov. 2.
Shotwell also said another donation would be finalized within a few weeks. That gift is intended for eligible children ages 11 to 17 in military families serving overseas, children in foster care and additional children in counties near the couple’s Texas home whose median family income is $90,000 or less.
Parents and guardians can use Invest America, a nonprofit advocacy organization, to check whether their children qualify for the stock donation. They can also follow activity in their children’s accounts through the Trump Accounts app. The eligibility requirements for Shotwell’s gift are narrower than the requirements for opening an account.
Trump Accounts, which are also called 530A accounts, are available to any U.S. child younger than 18 who has a Social Security number. Children born between 2025 and 2028 may additionally qualify for a single $1,000 deposit from the U.S. Department of the Treasury. Other funding may be available when particular criteria are met.
In a separate announcement on X in October, Elon Musk said he planned to give every child in America a SpaceX share sometime in 2027. That proposed distribution may also use Trump Accounts.
The stock gifts follow temporary regulations issued by the Treasury Department at the end of September. Those rules permit Trump Accounts to accept donated shares of individual companies. Previous guidelines restricted holdings to diversified, low-cost index funds.
Internal Revenue Service CEO Frank Bisignano told CNBC’s “Squawk Box” on Oct. 8 that allowing stock donations could encourage more large-scale philanthropic contributions. On Oct. 29, he announced a donation of his own for eligible children ages 2 to 8 in 11234, his hometown ZIP code, according to The Bisignano Family Fund.
