SpaceX president gifts $320M in company stock to fund new Trump Accounts

SpaceX president Gwynne Shotwell and her husband are to donate a chunk of their company stock to fund Trump Accounts that will benefit more than two million American children.

Shotwell announced the donation of two million shares in an X post Monday, which are worth an estimated $320 million based on the current stock market valuation of the Elon Musk-founded rocket company.

The executive said she and her husband, Robert Shotwell, a space engineer at NASA’s Jet Propulsion Laboratory in California, were “honored and thrilled” to be making the donation.

Trump Accounts, which were launched to mark America’s 250th anniversary, can be opened for all children under the age of 18, while those born during Trump’s second term will receive $1,000 from the federal government. The Trump Accounts convert into retirement-style investment accounts when a child turns 18.

The couple’s donation will be centered on children, aged 11 to 17, in areas with lower average household incomes. The donation will also have “a bit more emphasis” on those who live near the couple’s home in central Texas, Shotwell wrote in the post.

“We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars,” Shotwell wrote.

Shotwell, who is also SpaceX’s chief operating officer, is one of the company’s largest individual shareholders with a stake worth approximately $2.4 billion. She has played an instrumental role in SpaceX’s success, working alongside Musk since 2002. She is worth an estimated $2 billion, according to Forbes.

SpaceX went public June 12 with founder Musk ringing the Nasdaq’s opening bell by video from the company’s headquarters in Starbase, Texas.

Shotwell’s announcement came days after Trump told CNBC he expects Musk’s company to donate stock to the program. Musk, the world’s first trillionaire, has not publicly commented on whether he will donate to the Trump Accounts.

Shotwell joins a growing list of executives and companies throwing their financial support behind the accounts. Several other tech companies, including Intel, Dell and Robinhood, have also announced their own investments into the program.

Michael and Susan Dell pledged $6.25 billion, while Micron committed $250 million. Other companies, including Intel and JPMorgan Chase, have said they will match the government’s $1,000 deposit.