Shotwell to Move Over 2 Million Shares Into Children’s Trump Accounts

SpaceX President Gwynne Shotwell says more than 2 million shares she and her husband pledged will begin transferring into children’s Trump Accounts in December, a gift valued at roughly $270 million to $290 million depending on the share price. The first distribution is for children ages 11 to 17 in lower-income ZIP codes or areas where income data is unavailable; a later round is intended for eligible children in overseas military families, children in foster care, and additional children in qualifying Texas counties. The transfer follows months of work to determine how donated stock could be placed in accounts that otherwise default to S&P 500 index funds. Shotwell’s gift is separate from Elon Musk’s pledge to give SpaceX shares to children nationwide.