Key facts
- Over 2 million SpaceX shares to be gifted to children.
- Distribution via 'Trump Accounts' begins in December.
- Eligibility based on age (11-17) and ZIP code median family income ($57,000 or less).
- Separate gift planned for military families, foster children, and lower-income families in Texas.
SpaceX President Gwynne Shotwell announced on Friday that over 2 million of the company's shares will be distributed to eligible children through 'Trump Accounts' in December. The initial gift targets children aged 11 to 17 residing in ZIP codes with a median family income of $57,000 or less. Children in areas with insufficient data for median income calculation will also qualify. Eligible families are expected to receive notification by Monday. A subsequent gift is being planned for military families serving overseas, children in foster care, and those with family incomes up to $90,000 in specific Texas counties. Earlier this month, CEO Elon Musk mentioned that SpaceX and Tesla had formed committees to explore a potential merger, though no terms have been agreed upon.