Shotwell and husband plan to donate over 2 million SpaceX shares to children

Planned share donation

UA.NEWS reports, citing CNBC, that SpaceX President and Chief Operating Officer Gwynne Shotwell and her husband Robert plan to donate more than 2 million SpaceX shares to children in the United States. The report says roughly 2 million recipients are expected to get one share each in December.

Who the first group covers

According to the report, the first donation is meant for Trump Accounts holders ages 11 to 17 who live in ZIP codes where median family income is no higher than $57,000. The list also includes ZIP codes where the U.S. Census Bureau does not publish median family income because the resident count is too small.

Shotwell said eligible families were expected to receive notice by Monday. The report adds that parents or guardians can check whether they qualify through the nonprofit Invest America and can follow account activity in the Trump Accounts app.

Other recipients and timing

Shotwell also said another donation is expected to be completed within several weeks. CNBC reports that this second donation would apply to children ages 11 to 17 from families of service members serving overseas, children in foster care, and other children from counties near her home in Texas where median family income is at or below $90,000.

Background on Trump Accounts and Musk's separate plan

The article says Trump Accounts, also called 530A accounts, are available in the United States to children under 18 who have a Social Security number. It also says children born in 2025 through 2028 may receive a one-time $1,000 contribution from the U.S. Treasury Department.

UA.NEWS reports that the Treasury Department introduced temporary rules at the end of September allowing donated individual shares to be held in these accounts, after previously allowing only diversified low-cost index funds. The article also says Elon Musk separately stated in October that he plans to give every child in the United States one SpaceX share in 2027 and said that could also happen through Trump Accounts.