Gwynne Shotwell, President and COO of SpaceX, announced Friday that eligible Trump Account holders will receive donated SpaceX shares in December. Shotwell and her husband will donate over 2 million shares, providing one share each to approximately 2 million children ages 11 to 17 in Trump Accounts whose families live in ZIP codes with median family incomes of $57,000 or less, or in areas where the Census Bureau has not reported median income data. Eligible families will receive notice by Monday.
Shotwell said an additional gift will be finalized in coming weeks for children ages 11 to 17 in military families overseas, children in foster care, and more children whose median family income is $90,000 or less in counties near Shotwell's home in Texas.
Trump Accounts, also called 530A accounts, are available to any U.S. child under 18 with a Social Security number. Children born from 2025 through 2028 may receive a one-time $1,000 deposit from the U.S. Department of the Treasury.
The Treasury Department issued temporary regulations at the end of September that allow Trump Accounts to hold individual donated stocks, changing prior rules that limited accounts to diversified, low-cost index funds. IRS CEO Frank Bisignano told CNBC on October 8 that allowing stock donations could enable more large-scale philanthropic gifts.
In October, Elon Musk wrote on X that he plans to give every child in America a share of SpaceX sometime in 2027, potentially also through Trump Accounts. On October 29, Bisignano announced his own donation to Trump Accounts for eligible children ages 2 to 8 in his hometown ZIP code.