SpaceX President Gwynne Shotwell says she and her husband are giving company stock to Trump Accounts for more than 2 million American children. The pledge comes days after President Donald Trump said he expected SpaceX shares to be contributed to the savings program, while Elon Musk has not commented publicly.
Highlights
- Gwynne Shotwell donates one share of SpaceX stock to each of over 2 million children, focusing on ages 11–17 in lower-income areas.
- Trump Accounts program, established under the 2023 Republican tax and spending law, now boasts $6.25 billion from Michael and Susan Dell and $250 million from Micron.
- Accounts receive a $1,000 U.S. Treasury deposit for every child born between January 1, 2025, and December 31, 2028, converting to retirement-style at age 18.
Stock gift targets lower-income children
As reported by Business Insider, citing Gwynne Shotwell in a post on X, the donation covers one share of SpaceX stock for each of more than 2 million children, with a focus on those aged 11 to 17 in areas with lower average household incomes.Shotwell says the effort places "a bit more emphasis" on children living near the couple's home in central Texas. She says she and her husband hope the gift encourages the next generation to pursue ambitions tied to space and human flight.
Program backing expands across corporate America
Shotwell joins a widening group of executives and companies supporting Trump Accounts, a program created under last year's Republican tax and spending law. Michael and Susan Dell have pledged $6.25 billion, Micron has committed $250 million, and employers including BlackRock, Intel, and JPMorgan Chase say they will match the government's $1,000 deposit.Trump said in a CNBC interview that he believes Musk will also donate SpaceX stock to the program. The accounts receive $1,000 from the U.S. Treasury for every American child born between January 1, 2025, and December 31, 2028, and convert into retirement-style accounts when the child turns 18.
In our earlier report on the launch of Trump Accounts, we explained how the federally backed, tax-deferred program lets families enroll U.S. children under 18 and includes a one-time $1,000 Treasury deposit for eligible children born in 2025–2028. We also noted how parents and sponsors can add up to $5,000 a year, with administration handled through IRS registration and support expanding among major companies and philanthropists via cash and stock contributions.
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