Musk plans to donate SpaceX shares via a "Trump account," but the recipient children are prohibited from selling them for 5 years.
Elon Musk stated on Monday that he plans to donate SpaceX shares to all children in the United States next year through "Trump Accounts" (also known as 530A accounts). However, under new regulations issued by the U.S. Treasury Department a few weeks ago, stocks acquired through such accounts typically cannot be sold for five years, even if the company faces financial difficulties. Lawyers and charity experts point out that the new rules give donors an unusually large amount of influence over children's investments, unlike traditional charitable donations where the recipient has the final say. Treasury officials said the move aims to help children from low-income families build long-term wealth and encourage donations.
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