SpaceX President and COO Gwynne Shotwell said in an X post on Friday, October 30 that more than 2 million SpaceX shares belonging to her and her husband, Robert, will be distributed to children’s Trump Accounts in December. She said the shares are being transferred to escrow now.
Who gets the shares
- First gift: children aged 11 to 17 who live in ZIP codes with a median family income of $57,000 or less, plus children in ZIP codes with too few residents for that income figure to be reported. Shotwell said eligible families should get a notice by Monday.
- Second gift: expected to be finalized in the coming weeks, covering eligible children in military families serving overseas, children in foster care, and children in eligible Texas counties where family income is $90,000 or less.
Background
Shotwell first announced the donation on July 6, shortly after SpaceX’s IPO priced at $135 a share. How stock would actually land in the accounts had been an open question, since Trump Account contributions default into an S&P 500 index fund; Shotwell thanked the Treasury, the IRS, the Dell Foundation and others for working out the mechanics. Teslarati notes that the $1,000 Treasury seed deposit only goes to babies born from 2025 through 2028, so for many of these teenagers the SpaceX stock will be the first asset in their account. Earlier this month Elon Musk pledged one SpaceX share to every child in America next year, though no distribution details for that have been published.
Sources: Teslarati, Reuters via Investing.com