SpaceX President Gwynne Shotwell is donating 2 million shares to low-income children

SpaceX President and Chief Operating Officer Gwynne Shotwell just announced that she and her husband are gifting over 2 million shares of SpaceX, the rocket company founded by Elon Musk, to children's savings accounts. The shares will be distributed in December through Trump Accounts, which are tax-advantaged investment accounts for American children under 18 that first rolled out 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 said in an X post on Friday. The announcement comes after Elon Musk said earlier this month that he would give one share to every child in America.

Starting in October, the Treasury Department began automatically enrolling all eligible children in the SpaceX shares program. The Shotwells split their contributions to target low-income communities. The first part goes to children ages 11 to 17 living in zip codes where the median family income is $57,000 or less, with notices arriving by Monday, November 2, according to Business Insider.

An additional gift will go to children in military families serving overseas, kids in foster care, and children whose family income is $90,000 or less living in counties near the company's home in Texas. Trump Accounts have also drawn support from other billionaires, including Dell Technologies founder Michael Dell and his wife, Susan, who gifted $6.25 billion last December.

Photo: Bill Ingalls, Public domain, via Wikimedia Commons, AI-edited