SpaceX COO Gwynne Shotwell Donates $325 Million in Shares to Children's Trump Accounts
SpaceX President and COO Gwynne Shotwell and her husband, Robert, have announced plans to distribute over 2 million SpaceX shares to children's 'Trump Accounts' starting in December 2026. The gift, valued at approximately $325 million based on a July pledge price of $162 per share, targets lower-income children first, specifically those aged 11 to 17 in ZIP codes with median family incomes of $57,000 or less. The distribution utilizes new Treasury Department regulations that allow individual company stocks to be contributed to these custodial IRAs, a departure from previous rules limited to low-cost index funds. While the gift provides significant capital to qualifying families, financial analysts note that recipients will inherit the original cost basis of the shares, potentially leading to substantial future capital gains tax liabilities upon sale.
Topics: Gwynne Shotwell IRS cost-basis rule SpaceX stock donation tax implications
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