SpaceX COO: Will Donate More Than 2 Million Shares of SpaceX Stock to Trump Accounts, First Distribution in December

TechFlow reported on November 1 that SpaceX President and Chief Operating Officer Gwynne Shotwell announced on X that she and Robert will donate more than 2 million shares of SpaceX stock, with plans to distribute them in December this year to eligible children's Trump Accounts. The relevant shares are currently being transferred into an escrow account.

The first beneficiaries are children aged 11 to 17 who live in ZIP code areas where the median household income does not exceed $57,000, as well as children who live in areas with too few residents to have relevant income statistics. Eligible families are expected to receive notifications by Monday.

Shotwell said additional donation plans will be finalized in the coming weeks, covering children of U.S. military families stationed overseas, foster children, and eligible children in certain counties in Texas where the median household income does not exceed $90,000.

The initiative is supported by SpaceX, the U.S. Department of the Treasury, the Internal Revenue Service (IRS), and related foundations. The specific valuation of the donated shares has not yet been disclosed.

Source: TechFlow