Gwynne Shotwell’s $300 million SpaceX pledge to Trump Accounts shows billionaires a tax-smart way to give away their own company’s stock
New Treasury rules let the ultrawealthy send shares of their own companies to millions of kids, as long as the gift goes through a charity.
SpaceX president Gwynne Shotwell has pledged to donate more than 2 million shares of her company to American children through Trump Accounts, a tax-advantaged investment account for minors. The rules, effective since September, allow billionaires to donate shares of publicly traded U.S. companies directly into these accounts. This is an attractive option for the wealthy, who often have significant investments tied up in their own company's stock.
The gift targets children aged 11 to 17 in lower-income areas, with a focus on those near the Shotwells' home in central Texas. While President Trump initially valued the donation at $325 million, the current share price would make it worth approximately $330 million.
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