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SpaceX's Shotwell says 2 million shares to be gifted to children's Trump Accounts

By Reuters News

Oct 30 (Reuters) - SpaceX SPCX.O President Gwynne Shotwell said in an X post on Friday that more than 2 million of the company's shares will be distributed to eligible children through "Trump Accounts" in December.

Here are some more details:

  • The initial gift of shares, currently being transferred to escrow, will go to children aged 11 to 17 living in ZIP codes with a median family income of $57,000 or less, Shotwell said

  • Children living in ZIP codes with too few residents for median family income data to be reported will also be eligible

  • Eligible families should receive a notice by Monday, she said

  • A separate gift is expected to be finalized in coming weeks for eligible children in military families serving overseas, children in foster care, and children whose family income is $90,000 or less, living in eligible Texas counties

  • CEO Elon Musk said earlier this month that SpaceX and Tesla TSLA.O had formed special committees to explore a potential merger, though he said the panels had not agreed upon transaction terms and might never do so

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