President Donald Trump expressed his gratitude to Space Exploration Technologies Corp. (NASDAQ:SPCX) President Gwynne Shotwell and her husband, Robert Shotwell, for their donation of SpaceX stock to help children achieve the American Dream through the Trump Accounts.
Late Wednesday, Trump took to Truth Social to acknowledge the Shotwells’ $325 million contribution of SpaceX stock. He praised the couple’s “extreme generosity” and highlighted the positive impact their donation will have on thousands of children.
Trump Accounts Gain Support
The President’s post came in response to Shotwell’s announcement that she and her husband would donate SpaceX shares to “Trump Accounts” for more than 2 million American children. The gift is intended for children aged 11 to 17 from lower-income households, with a particular focus on those living near the Shotwells’ central Texas home.
The Shotwells’ donation comes as part of the Invest America program, which aims to provide financial support to children in need. The funds are automatically invested in an S&P 500 index fund, and additional contributions can be made by families, employers, and other parties up to $5,000 annually.
Trump’s recognition of the Shotwells’ contribution comes after he expressed confidence that CEO Elon Musk might also donate SpaceX stock to the program. The president has expressed confidence in his relationship with Musk, despite past disagreements over electric vehicle mandates.
The donation adds Gwynne Shotwell to a growing list of wealthy supporters of Trump Accounts. Michael and Susan Dell of Dell Technologies Inc. (NYSE:DELL) pledged $6.25 billion to provide $250 to 25 million children, while Ray Dalio and his wife Barbara committed at least $75 million for over 300,000 children in Connecticut. Ray Dalio has said the program can help teach young people about finance, investing and capitalism.
According to Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev, the growth of Trump Accounts has outpaced that of many of America’s most successful tech companies. As of June, nearly 6 million children had enrolled in the program.
Image via Shutterstock
Login to comment