Elon Musk's SpaceX Is Preparing a December Stock Gift for Millions of Kids — Trump Accounts to Receive Shares as Another Round of Beneficiaries Gets Added
Space Exploration Technologies Corp. (NASDAQ: SPCX) President Gwynne Shotwell said she and her husband are "thrilled that our gift of over 2 million shares of SpaceX stock will be distributed to children’s Trump accounts in December."
Shotwell announced the gift in an X post on Friday. She said the initial gift’s shares are transferring to escrow, and that families should receive a notice by Monday.
Who Qualifies for Shares
The first round covers 11- to 17-year-olds who live in ZIP codes with a median family income (MFI) of $57,000 or less, and those in ZIP codes with too few residents for the census to report an MFI, Shotwell said.
Parents or guardians can check eligibility through Invest America, a nonprofit advocacy group, and track account activity with the Trump Accounts app, CNBC reported on Monday. Each eligible child receives one share.
Second Gift in Weeks
Shotwell wrote that "in a few weeks, 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 whose MFI is $90,000 or less in counties near her Texas home.
Shotwell also said she is "deeply grateful for the groundbreaking work" that Brad Gerstner and Michael Dell have done "for the long-term financial security for millions of kids." She closed the post with "God Bless America!"
Earlier Trump Accounts Gifts
The December distribution follows a July pledge in which Shotwell and her husband said they would gift a share of SpaceX stock through the Invest America program to a Trump Account for each of more than two million children. She said then that the gift would go to children ages 11 to 17 in areas with lower average household incomes, with "a bit more emphasis" on children near her central Texas home. Altimeter Capital founder Brad Gerstner had said the shares would stay locked until age 18.
Trump Accounts launched in July through the Invest America effort. Eligible children born between Jan. 1, 2025, and Dec. 31, 2028, receive a $1,000 federal seed investment, while older children can open accounts but do not receive that deposit.
Separately, SpaceX CEO Elon Musk had said in an X post that he would give one of his own SpaceX shares "to every kid in America" in 2027, adding: "This will be the first of many."
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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