Trump expects Musk to donate SpaceX stock to Trump Accounts
If his expectations prove correct, SpaceX would join a growing list of companies backing the program.
Elon Musk and Donald Trump. Anna Moneymaker/Getty Images
- Trump said he expects Elon Musk to donate SpaceX stock to Trump Accounts, a government-backed child investment program.
- The program gives eligible children tax-advantaged accounts, starting with a $1,000 government deposit.
- Trump said he and Musk remain on good terms despite disputes over electric vehicle subsidies and spending policy.
Key Takeaways by nexos.ai, reviewed by Cybernews staff.
US President Donald Trump said he thinks Elon Musk will donate SpaceX stock to Trump Accounts, a government-backed program that provides eligible American children with tax-advantaged investment accounts.
“Well, I think that he will do that,” Trump said in an interview Thursday on CNBC. “Micron, which is a great company, just did it,” he added, citing others who have pledged support for the program.
Trump also said that he hadn’t spoken with Musk directly since SpaceX's IPO made him the world’s first trillionaire, but congratulated the tech mogul in a note.
"I wrote him a note, I said congratulations."Trump
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He also addressed his “little feud” with Musk over the decision to remove electric vehicle subsidies and mandates, saying Musk was "not thrilled" but that the two still have a good relationship. Musk, however, has publicly argued that his criticism is centered around Trump's tax-and-spending bill that "increases the budget deficit, not just decreases it".
Before their falling-out, Musk backed Trump's presidential campaign, which Trump referenced in the interview: "He backed me 100%. He liked me, still likes me.”
The Trump savings accounts officially launched on July 4th, and eligible children will be able to track their investments after their parents’ contributions beginning Monday, July 6th.
Multiple large employers have already pledged their support for the initiative. Goldman Sachs and Morgan Stanley announced on Thursday that they would match the government's $1,000 initial deposit for employees' children.
If Trump’s expectations prove correct, SpaceX would join a growing list of companies backing the program, including Comcast, Intel, Uber, JPMorgan Chase, Micron Technology, Robinhood and SoFi, among others.
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During the interview, Trump specifically highlighted the $6.25 billion contribution made by American entrepreneur Michael Dell, whom he called a "fantastic guy.”
The comments come shortly after SpaceX went public in June, raising roughly $75 billion in the biggest initial public offering ever.