SpaceX gifts stock to Trump Accounts while Trump doubles down on the stock market
Gwynne Shotwell, the president of SpaceX (NASDAQ:SPCX), said on Monday that she will give away company stock to help fund the new Trump Accounts program, adding her name to a growing line of companies and rich business owners who are backing the children’s savings plan.
The gift comes from stock owned by Shotwell and her husband. It will be split among close to 2 million Trump accounts. In a post on X, Shotwell said the money would go a little more toward kids living near her 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 wrote.
Shotwell also works as SpaceX’s chief operating officer and owns one of the biggest individual stakes in the company, worth close to $2.4 billion after its IPO broke records last month. As reported by Cryptopolitan previously, the stock has since seen sharp swings.
Just days before her announcement, on Thursday, President Trump told CNBC host Joe Kernen that he believed SpaceX chief Elon Musk would also give stock to the program.
Other companies have already joined in
The accounts with the tax code of 530A began on July 4th. They are for the children born between 2025 and 2028. They will receive $1,000 initially from the U.S. Treasury.
There are other big companies as well, before SpaceX. Intel, Robinhood and Micron have all said that they will add their own money. Micron has even announced a one-time payment of $250 million divided among all the children’s accounts in the towns where it does business.
Michael and Susan Dell stood beside Trump on Monday, marking their $6.25 billion pledge.
Other billionaires, including investor Ray Dalio, have made their own separate promises. Trump even joked that kids had missed out on recent stock gains simply because the accounts took so long to launch.
Trump rings the bell from the Oval Office
Trump himself marked the day by ringing the opening bells for the New York Stock Exchange and the Nasdaq, all from inside the Oval Office. The moment showed just how closely he has linked his time in office to how stocks are doing.
🇺🇸💸 July 6, 2026 pic.twitter.com/tbXKgxXh7X
— The White House (@WhiteHouse) July 6, 2026
With prices still running high and hurting his standing with voters, Trump has pushed Americans to pay more attention to their 401(k) accounts, saying his policies deserve the credit for any gains, especially with the November midterms coming up.
“It’s going to go up, I think the market’s going to go through the roof,” Trump said once trading began.
Yet only 33% of American adults say they approve of how Trump is handling the economy, based on a June survey from The Associated Press-NORC Center for Public Affairs Research. That number may explain why ringing the bell might not do much for his party’s chances with voters this fall.
The S&P 500 climbed 17.9% in 2025. That followed even bigger jumps of 25% in 2024 and 26.3% in 2023, both under President Biden. So far this year, the index is up about 10%. But like Biden before him, Trump has watched his approval ratings slide as prices keep climbing.
He won in 2024 partly by promising to lower costs, yet his tariffs and the start of fighting in Iran have added new pressure on prices. The consumer price index has risen 4.2% over the last year, up from 3% when Trump began his second term in January 2025. Even so, Trump is counting on these new investment accounts to give younger Americans a real stake in the economy going forward.
Separately, SpaceX is set to officially join the Nasdaq-100 on Tuesday. That means investors holding money in funds tied to the index will end up owning SpaceX shares, whether they meant to or not.
Funds managing a combined $800 billion, including the well-known Invesco QQQ ETF, will buy SpaceX shares at Monday’s closing price to keep in step with the index. This follows new rules that let large, newly public companies join the Nasdaq-100 faster than before.
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