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

Source: The Independent

Monday 06 July 2026 16:01 EDT


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.

Read more: https://www.the-independent.com/news/world/americas/elon-musk-spacex-stock-trump-accounts-b3009980.html