SpaceX COO: Will donate over 2 million shares of SpaceX stock to Trump's account, with the first batch of funds distributed in December

SpaceX Chief Operating Officer Gwynne Shotwell announced that she will donate over 2 million shares of SpaceX stock to fund "Trump Accounts" for children. The first batch of donated shares is currently being transferred to a custodial account and is expected to be distributed in December.

The initial beneficiaries are children aged 11 to 17 living in areas with a median family income not exceeding $57,000, as well as children in areas with too few residents to calculate the median family income. Related families are expected to receive notifications by Monday.

Shotwell also stated that additional donations will be finalized in the coming weeks, covering children aged 11 to 17 from military families serving overseas, foster children, and more children living in counties surrounding SpaceX's headquarters in Texas with a median family income not exceeding $90,000. She thanked the U.S. Department of the Treasury, the IRS, the Dell Foundation, and other organizations and teams for their support in advancing the project.