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Shotwell says SpaceX shares go to Trump Accounts in December
CNBC reported that SpaceX President and COO Gwynne Shotwell said she and her husband will donate more than 2 million SpaceX shares to eligible Trump Account holders starting in December.
Eligible holders of Trump Accounts will begin receiving donated SpaceX shares next month, SpaceX President and Chief Operating Officer Gwynne Shotwell said in a post on X, CNBC reported Monday1.
Shotwell wrote that she and her husband, Robert, were giving more than 2 million SpaceX shares to children's Trump Accounts in December, according to CNBC1. The gift is meant to provide one share each to about 2 million account holders ages 11 to 17 who live in ZIP codes with median family incomes of $57,000 or less, or in ZIP codes too small for the Census Bureau to report a median, the report said1.
Those families should receive a notice by Monday, Shotwell wrote, CNBC said1. She also said a further gift would be finalized in a few weeks for eligible 11- to 17-year-olds in military families serving overseas, children in foster care, and more children whose median family income is $90,000 or less in counties near her home in Texas1.
Parents or guardians can check eligibility through Invest America, a nonprofit advocacy group, and track activity in the Trump Accounts app, CNBC reported1.
Trump Accounts, also known as 530A accounts, are open to any U.S. child under 18 with a Social Security number, the report said1. Children born from 2025 through 2028 may also receive a one-time $1,000 deposit from the Treasury, it said1.
CNBC said the Treasury issued temporary regulations at the end of September that allow the accounts to hold donated individual stocks, after earlier guidelines limited them to diversified, low-cost index funds1. IRS CEO Frank Bisignano told CNBC's "Squawk Box" on Oct. 8 that permitting stock donations could lead to more large-scale gifts, the story said1.
In a separate October post, Elon Musk said he planned to give every child in America a share of SpaceX sometime in 2027, which may also come via Trump Accounts, CNBC reported1. On Oct. 29, Bisignano announced his own donation for eligible children ages 2 to 8 in ZIP code 11234, according to The Bisignano Family Fund as cited by CNBC1.
What share price will apply, how transfers will be recorded, and whether later gifts from Shotwell or Musk close on the timelines described was not established beyond Shotwell's post and CNBC's account1.
