Gwynne Shotwell says SpaceX stock will go to eligible Trump Accounts

Shotwell announces the donation

The American Bazaar reports that SpaceX President and COO Gwynne Shotwell said on X that she and her husband, Robert, will donate SpaceX shares to eligible Trump Account holders. Shotwell wrote that their gift of more than 2 million shares of SpaceX stock will be distributed to children’s Trump accounts in December.

Who the shares are for

According to the report, the donation would give one share each to about 2 million Trump Account holders between ages 11 and 17. The children must live in ZIP codes with median family incomes of $57,000 or less, or in ZIP codes with too few residents for the U.S. Census Bureau to report a median family income. Shotwell said eligible families would get a notification by Monday.

Another donation is planned

Shotwell also said that in a few weeks, a second gift would be finalized for additional eligible children. The American Bazaar says that group would include 11- to 17-year-old children in military families serving overseas, children in foster care, and more children whose median family income is $90,000 or less and who live in counties near the couple’s home in Texas.

How Trump Accounts work

The report says parents and guardians can check eligibility through Invest America, a nonprofit advocacy group, and can track account activity in the Trump Accounts app. Trump Accounts, also known as 530A accounts, are available to U.S. children under 18 with Social Security numbers. They were created under the One Big Beautiful Bill Act, and parents or legal guardians must open and manage them until adulthood. Contributions can come from parents, relatives, employers and other eligible donors.

Related rules and past announcements

The American Bazaar says a one-time federal contribution of $1,000 is available for eligible children born between Jan. 1, 2025, and Dec. 31, 2028. It also reports that Elon Musk had said he would donate one SpaceX share to every child in the United States next year. In late September, the U.S. Department of the Treasury issued temporary regulations allowing Trump Accounts to hold donated individual stocks, changing earlier guidance that limited them to diversified, low-cost index funds. The report adds that IRS CEO Frank Bisignano told CNBC on Oct. 8 that stock donations could encourage larger-scale charitable gifts, and that on Oct. 29 he announced his own donation for eligible children ages 2 to 8 in ZIP code 11234, according to the Bisignano Family Fund.