Eligible Trump Account holders will begin receiving donated shares of SpaceX stock in December, according to a post on X by Gwynne Shotwell, the company’s president and chief operating officer.
Shotwell said that she and her husband, Robert, are donating more than 2 million SpaceX shares. The donation is expected to provide one share to approximately 2 million Trump Account holders ages 11 to 17 who live in ZIP codes with median family incomes of $57,000 or less, or in areas where the U.S. Census Bureau cannot report a median because of insufficient population. Families in those areas should receive notification by Monday, she wrote.
Shotwell also said that another donation is expected to be finalized within several weeks for eligible children ages 11 to 17 in military families serving overseas, children in foster care and additional children living in counties near Texas with median family incomes of $90,000 or less.
Parents and guardians can verify eligibility through Invest America, a nonprofit advocacy organization, and monitor account activity using the Trump Accounts app.
Trump Accounts, also known as 530A accounts, are available to U.S. children under 18 who have a Social Security number. Children born between 2025 and 2028 may also qualify for a one-time $1,000 contribution from the U.S. Department of the Treasury, while other funding may depend on additional criteria.
The Treasury introduced temporary regulations in late September allowing Trump Accounts to hold donated individual stocks. Earlier rules had limited the accounts to diversified, low-cost index funds. IRS CEO Frank Bisignano said in October that the change could enable larger philanthropic contributions.
In a separate October announcement, Elon Musk said he planned to give every child in the United States a share of SpaceX in 2027, potentially through Trump Accounts. Bisignano also announced a donation for eligible children ages 2 to 8 living in ZIP code 11234, his hometown area, through The Bisignano Family Fund.
Sources: CNBC Markets.