Image: TIME
SpaceX President and COO Gwynne Shotwell said Friday that she and her husband, Robert, are giving over 2 million of their SpaceX shares to children’s Trump Accounts, with distribution set for December.
The update follows her July pledge to put SpaceX stock into those federal children’s savings accounts, and it lands weeks after Elon Musk said he will give one of his SpaceX shares to every American kid next year.
Shotwell wrote on X that the initial gift is already transferring into escrow. It covers 11- to 17-year-olds who live in zip codes with median family income of $57,000 or less, and zip codes with too few residents for the census to report that figure. Those families should receive a notice by Monday.
In a few weeks, she said, an additional gift will be finalized for eligible 11- to 17-year-olds in military families serving overseas, children in foster care, and more children in Texas counties near the couple’s home where median family income is $90,000 or less.
Trump Accounts are federal children’s savings accounts created for young Americans. Shotwell thanked SpaceX, the U.S. Treasury, the IRS, the Dell Foundation and other partners for months of work on the transfer, and she credited Brad Gerstner and Michael Dell for work on kids’ long-term financial security. Friday’s post did not assign a dollar value to the shares.
This gift is personal stock from Shotwell and her husband rather than a company program, and it comes about four months after SpaceX’s June IPO.
Will the December distribution land before Musk’s broader every-kid pledge starts next year?
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