SpaceX executive donates shares to children in low-income communities

Shotwell and her husband, Robert, are distributing the shares in December through Trump Accounts, a tax-advantaged investment and savings program for children under 18 that launched in July. “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 posted on X.

The initiative follows a similar announcement earlier this month from SpaceX founder Elon Musk, who stated his intention to give one share to every child in America.

Starting in October, the Treasury Department began automatically enrolling eligible children in the SpaceX shares program.

Initial contributions will target children ages 11 to 17 residing in zip codes with a median family income of $57,000 or less. Eligible families are expected to receive notification by Monday, November 2. A subsequent distribution will benefit military families serving overseas, children in foster care, and children aged 11 to 17 with a median family income of $90,000 or less living in counties near Texas.

Trump Accounts have garnered support from various companies and philanthropists, including Uber, BlackRock, and Visa. In December of last year, Dell Technologies founder Michael Dell and his wife, Susan, donated $6.25 billion to the program.

Brad Gerstner, an investor involved in the creation of Trump Accounts, suggested in October that similar accounts could be made available to US citizens under 40.