SpaceX President and COO Gwynne Shotwell announced on X that she and her husband, Robert, would donate SpaceX shares to eligible Trump Account holders.
“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.
The donation would provide one share each to approximately 2 million Trump Account holders ages 11 to 17 who live in ZIP codes with median family incomes (MFI) of $57,000 or less, or in ZIP codes with too few residents for the U.S. Census Bureau to report a median family income. Shotwell said eligible families would receive a notification by Monday.
“In a few weeks, an additional gift will be finalized for eligible 11 to 17-year-old children in military families serving overseas, children in foster care, and more children whose MFI is $90,000 or less living in counties near our home in the great state of Texas,” she added.
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Parents and guardians can check whether their children qualify for the donation through Invest America, a nonprofit advocacy group. They can also track account activity through the Trump Accounts app.
Trump Accounts, also known as 530A accounts, are available to U.S. children under 18 who have Social Security numbers. The accounts were established under the One Big Beautiful Bill Act. Parents or legal guardians must open and manage the accounts until the children reach adulthood.
Contributions can come from parents, relatives, employers and other eligible donors.
A key feature of the program is a one-time $1,000 federal contribution for eligible children born between Jan. 1, 2025, and Dec. 31, 2028.
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Additional contributions may also be available to children who meet specific eligibility criteria. SpaceX CEO Elon Musk had announced that he would donate one SpaceX share to every child in the United States next year.
The U.S. Department of the Treasury introduced temporary regulations at the end of September allowing Trump Accounts to hold donated individual stocks. This marked a change from earlier guidelines, which limited investments to diversified, low-cost index funds.
Internal Revenue Service CEO Frank Bisignano told CNBC’s “Squawk Box” on Oct. 8 that allowing stock donations could pave the way for more large-scale philanthropic contributions.
On Oct. 29, Bisignano announced his own donation to Trump Accounts for eligible children ages 2 to 8 living in ZIP code 11234, his hometown area, according to the Bisignano Family Fund.