The donation targets more than 2 million children between the ages of 11 and 17 residing in lower-income areas, with a specific focus on communities near the couple’s central Texas home. While the valuation of the shares fluctuates based on market conditions, the gift remains one of the largest individual contributions to the tax-advantaged savings initiative, which provides $1,000 in seed money from the Treasury for children born between 2025 and 2028.
Gwynne Shotwell pledges $325 million in SpaceX stock to Trump Accounts
SpaceX president Gwynne Shotwell and her husband, Robert, have committed a massive donation of company stock to the federal Trump Accounts program. President Donald Trump publicly lauded the contribution on Truth Social, valuing the gift at $325 million and framing it as a major investment in the future of American children.
Shotwell’s move follows public speculation regarding potential SpaceX involvement in the program. Last Friday, the president suggested that Elon Musk would contribute stock to the initiative despite recent friction between the two. Musk has yet to issue a public statement regarding his second-in-command’s decision to provide the funding. As of Wednesday’s market close, the share price adjustment placed the current market value of the gifted stock closer to $296 million, down from the initial estimate provided at the time of the announcement.
Comments (0)
No comments yet. Be the first!