Gwynne Shotwell, president and chief operating officer of Elon Musk’s SpaceX, and her husband Robert are to donate two million shares in the rocket company — worth an estimated $320m — to fund Trump Accounts for more than two million American children.
The announcement came days after Donald Trump told CNBC he expected Musk’s company to contribute to the accounts, which were launched to mark America’s 250th anniversary. Musk, the world’s first trillionaire, has not publicly commented on whether he will donate.
“Spacex president Gwynne Shotwell donates $320m in stock to fund Trump Accounts for over two million children.”
Trump Accounts can be opened for all children under 18, with those born during Trump’s second term receiving $1,000 from the federal government. The accounts convert into retirement-style investment vehicles when the child turns 18.
Shotwell wrote on X that the couple’s donation would focus on children aged 11 to 17 in areas with lower average household incomes, with “a bit more emphasis” on those living near their home in central Texas. “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,” she said.
Shotwell, one of SpaceX’s largest individual shareholders with a stake worth about $2.4bn, has worked alongside Musk since 2002. Her net worth is estimated at $2bn by Forbes. SpaceX went public on June 12, with Musk ringing the Nasdaq’s opening bell by video from the company’s Starbase, Texas headquarters.
Shotwell joins a growing list of executives and companies backing the accounts. Michael and Susan Dell pledged $6.25bn, Micron committed $250m, and Intel and JPMorgan Chase have said they will match the government’s $1,000 deposit.
The donation comes on the eve of America’s 250th birthday, a moment when Trump — who according to the New York Times “pulled in at least 2 billion dollars after returning to the White House” — has been warning of a “communist menace”. At Mount Rushmore, Trump veered from patriotism to attacking “communism” after progressive wins in Democratic congressional primaries, accusing the left of a coming apocalypse. The convergence of corporate generosity and anti-socialist rhetoric underscores the deepening ideological divide as the anniversary approaches.
