President Donald Trump took to Truth Social to thank SpaceX president Gwynne Shotwell for her and her husband's stock donation to Trump Accounts, which he said was worth $325 million.
"Thank you to the brilliant and highly respected Gwynne Shotwell, and her husband, Robert, for their extreme generosity in helping children to attain the ever magnificent American dream!" Trump wrote on Truth Social.
"Their Gift of 325 Million Dollars of SpaceX Stock is greatly appreciated by all," the president added, signing off by wishing the couple "continued Great Success!"
Shotwell did not put a value on the gift when she announced it on X, saying only that she and her husband would give a share of their SpaceX stock to a Trump Account for each of more than 2 million American children.
At Wednesday's closing price of $148 per share, the shares were worth about $296 million, reflecting a slight decline in SpaceX's share price since the gift was announced on Monday, when they were valued between $320 million and $325 million.
Trump wrote that "thousands of children have just been given a better life," though Shotwell's announcement said the gift would reach more than 2 million 11 to 17-year-olds in lower-income areas, with extra emphasis on those near the couple's central Texas home.
The donation makes Shotwell, Elon Musk's second-in-command, one of the largest individual contributors to Trump Accounts, the tax-advantaged savings vehicles seeded with $1,000 from the Treasury for every American child born between 2025 and 2028.
Shotwell's gift follows Trump's prediction last Friday that Musk himself would donate SpaceX stock to the program, despite what he called "a little dispute" between them. "Well, I think that he will do that," the president told CNBC.
Musk has not publicly commented on Shotwell's donation.
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Georgia is a fellow at Business Insider's London office.Before joining Business Insider, she worked at Japan's largest newspaper, The Yomiuri Shimbun, and interned at the Financial Times. She is an NCTJ-qualified journalist with a degree in Philosophy from the University of Birmingham. You can contact her via email at [email protected]
