SpaceX president makes stock gift to Trump Accounts

President Donald Trump said SpaceX president Gwynne Shotwell and her husband, Robert, are giving $325 million in SpaceX stock to Trump Accounts, the child savings program tied to his administration. The announcement puts one of SpaceX’s top executives among the highest-profile private backers of the accounts, according to Fortune.

Trump praised the Shotwells on Truth Social on Thursday, describing the contribution as a gift of SpaceX shares worth $325 million. Fortune reported that Shotwell’s own announcement did not state a dollar amount for the donation.

Shotwell said on X that the gift is intended for children ages 11 to 17 who live in places with lower average household incomes. She said the effort would place added emphasis on children living near the couple’s central Texas home, according to Fortune.

Michael Dell, another major supporter of Trump Accounts, also applauded Shotwell’s move on X. Fortune reported that Dell described the donation as SpaceX shares for 2 million children’s Trump Accounts and framed it as a way to give young people ownership connected to the future of space.

Major donors line up behind the accounts

Shotwell’s pledge follows a larger commitment from Dell Technologies founder Michael Dell and his wife, Susan. Fortune reported that the Dells pledged $6.25 billion to Trump Accounts, with $250 set aside for each of the first 25 million qualifying American children who enrolled.

Dell said on X that the accounts would make children shareholders in what he called American capitalism, according to Fortune. The Dells’ gift remains the largest private commitment cited in Fortune’s reporting on the program.

Trump had recently suggested that Elon Musk could also put SpaceX stock into Trump Accounts. In an interview with CNBC’s Joe Kernan last week, Trump said he thought Musk would do so when asked whether the SpaceX and Tesla chief executive would join other billionaire donors, Fortune reported. Musk has not publicly announced such a contribution, according to Fortune.

How Trump Accounts work

The IRS says Trump Accounts are available to children who have not turned 18 before the end of the calendar year in which the account election is made and who have a valid Social Security number.

Fortune reported that the accounts include a one-time $1,000 federal contribution for U.S. citizen children born from 2025 through 2028. The accounts went live on July 4, and Trump marked the rollout the following Monday by ringing the opening bell, according to Fortune.

More than 6 million children have signed up since enrollment opened earlier this year, and 1.4 million of them qualify for the $1,000 federal seed contribution, Fortune reported.

For children who do not receive the federal seed money, Fortune reported that parents, relatives and friends may still contribute. Those contributions can total up to $5,000 a year in after-tax dollars before the child turns 18.

This story draws on original reporting from Fortune.