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The Trump administration’s newly launched “Trump Accounts” are poised to receive a huge infusion of wealth from an American business couple.
“My husband and I are honored and thrilled to participate in the Invest America program and gift a share of our SpaceX stock to a Trump Account for each of more than two million children across our great nation,” announced Gwynne Shotwell this week.
Shotwell is the president and COO of Elon Musk’s SpaceX.
The “Trump Accounts” launched in early July. The investment accounts offer eligible American children a federally seeded account ($1,000) that parents, grandparents, and friends may annually contribute to. Accounts will grow over time, as long as the money is not withdrawn.
“Every American child under 18 can benefit from having a Trump Account, but our gift specifically goes to the Accounts of children (ages 11-17) that live in areas with lower average household incomes with a bit more emphasis for those that live near our central Texas home,” Shotwell said in her statement.
President Donald Trump highlighted the Shotwell’s contribution in his own statement on Truth Social.
“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!” he declared.
The president said that the Shotwells had donated $325 million in SpaceX stock.
He wrote, “Thousands of children have just been given a better life. Thank you Gwynne and Robert, and continued Great Success!”
Earlier this week, President Trump said during a Rose Garden event that, as of Monday, more than six million Americans had already signed their kids up for Trump accounts.
To be eligible for the $1,000 in federal seed money, children must be born between January 2025 and December 2028. However, any child under the age of 18 is eligible to open a general account.