SpaceX President Gwynne Shotwell said Friday that more than 2 million SpaceX shares she and her husband, Robert, are giving away will be placed in children’s Trump Accounts in December.
“Robert and I are thrilled that our gift of over 2 million shares of SpaceX stock will be distributed to children’s Trump accounts in December!” Shotwell wrote on X.
The first round will go to children aged 11 to 17 who live in ZIP codes with a median family income of $57,000 or less, she said. Children in ZIP codes with too few residents to report income data will also qualify.
The shares are being moved into escrow, and eligible families should receive a notice by Monday, Shotwell said.
A second gift is expected in the coming weeks for children in military families serving overseas, children in foster care and children in eligible Texas counties with family incomes of $90,000 or less, Reuters reported.
Gift first announced in July
Gwynne Shotwell first announced the gift on July 6, saying she and her husband would give a share of their SpaceX stock to a Trump Account for each of more than 2 million children. At the time, it was unclear how the transfers would work or who would be eligible, Semafor noted.
President Donald Trump thanked the couple on Truth Social for “their extreme generosity” and valued the gift at $325 million, according to Fortune. Shotwell did not put a dollar figure on it.
Elon Musk made a separate pledge on Oct. 19, writing on X that he would give one of his own SpaceX shares “to every kid in America” next year.
Trump called Musk’s plan “exactly what was envisioned when we created TRUMP ACCOUNTS.” Musk has not said which children will qualify or how the shares will be handed over.
How Trump Accounts work
The Treasury Department said Oct. 1 that it had automatically enrolled more than 60 million eligible children under 18 with a valid Social Security number.
A parent or guardian must claim an account before it can receive money from family, an employer or anyone else. Children born from 2025 through 2028 can also get a $1,000 government deposit, but only if an adult requests it under new Treasury rules, according to a Moneywise report on Yahoo Finance.
For families in the first group, the notices due Monday are the next step before the shares arrive in December.