SpaceX President and COO Gwynne Shotwell said she and her husband are gifting over 2 million shares of the company to children through Trump Accounts, tax-advantaged investment accounts for Americans under 18. The shares will be distributed in December.
Eligible recipients are children ages 11 to 17 living in zip codes with median family income of $57,000 or less. A second distribution will go to children ages 11 to 17 in military families serving overseas, children in foster care, and those with median family income of $90,000 or less living in counties near the Shotwells' home in Texas. Shotwell said eligible families would receive notice by Monday, November 2.
The gift follows an announcement from SpaceX founder Elon Musk that he would give one share to every child in America. The Treasury Department began automatically enrolling eligible children in the SpaceX shares program in October.
Trump Accounts have drawn support from other major donors. Dell Technologies founder Michael Dell and his wife gifted $6.25 billion to the accounts last December. Companies including Uber, BlackRock, and Visa have made corporate commitments to the program.