Your kid could become a SpaceX shareholder by Christmas.
SpaceX President and COO Gwynne Shotwell said she and her husband are gifting over 2 million shares of the company to eligible tweens and teens through Trump Accounts, which first rolled out in July. Trump Accounts are tax-advantaged investment and savings accounts for American children under 18.
“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 said in an X post on Friday.
The announcement comes after SpaceX founder Elon Musk said earlier this month that he would give one share to every child in America.
“This will be the first of many,” he wrote in an X post.
Starting in October, the Treasury Department began automatically enrolling all eligible children in the SpaceX shares program.
Your child may qualify. Here’s what to know.
Who is eligible?
The Shotwells took a twofold approach to their contributions, which are intended for low-income communities.
The first will go toward children ages 11 to 17 who live in zip codes with a median family income of $57,000 or less. Shotwell said eligible families would receive a notice by Monday, November 2.
She said a separate contribution would be distributed later in the month.
“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,” Shotwell said.
Big donors
Trump Accounts have drawn support from high-profile companies and philanthropists.
The program has collected corporate commitments from companies like Uber, BlackRock, and Visa. Dell Technologies founder Michael Dell and his wife, Susan, are big-time Trump Account donors, gifting $6.25 billion last December.
While the program is for children, the Trump administration has floated the idea of creating accounts for adults. Brad Gerstner, an investor and architect of Trump Accounts, said in October that similar accounts should become available to US citizens under 40.
Read the original article on Business Insider
The post SpaceX exec says she’ll donate 2 million shares to kids from low-income families. See who’s eligible. appeared first on Business Insider.
