President Donald Trump said he thinks Elon Musk will donate SpaceX stock to Trump Accounts, the US government’s savings program for children.
In an interview with CNBC that aired Thursday, Trump said he hadn’t spoken with Musk directly since he briefly became the world’s first trillionaire following SpaceX’s record-breaking IPO.
“I wrote him a note, I said congratulations,” Trump said.
Asked directly whether Musk might donate SpaceX stock to Trump Accounts, the president said: “Well, I think that he will do that.”
While SpaceX’s stock has been volatile since its $85 billion IPO last month, it remains one of the world’s most valuable companies. Should Trump’s expectations materialize, it would join a growing list of corporate contributions flowing into Trump Accounts.
Trump Accounts, created under last year’s Republican tax and spending law, are tax-advantaged investment accounts seeded with $1,000 from the Treasury for every American child born between January 1, 2025, and December 31, 2028. The money will be invested in low-fee US equity index funds and converted into a retirement-style account when the child turns 18.
In his CNBC interview, Trump singled out Michael Dell, whom he called a “fantastic guy,” for a $6.25 billion donation to the program, as well as a pledge from Micron. “That’s a tremendous amount, I don’t care how rich you are,” Trump said.
Companies such as Uber, Comcast, and Wells Fargo have also confirmed they will contribute to employees’ children’s accounts. Employers like BlackRock, Intel, and JPMorgan Chase have said they will match the government’s $1,000 deposit.
SpaceX did not immediately respond to a Business Insider request for comment.
Trump said his relationship with Musk remains strong, describing their past falling-out as a “little dispute” rooted in his decision to remove subsidies and mandates for electric vehicles. Prior to that, Musk backed Trump’s presidential campaign and later spearheaded an initiative to cut government spending.
“He backed me 100%. He liked me, still likes me,” Trump told CNBC, adding that Musk was “not thrilled” when Trump followed through on his campaign pledge to reduce incentives for electric vehicles.
“I can understand it, but he’s doing good,” Trump said.
Read the original article on Business Insider
The post Trump says he expects Musk to donate SpaceX stock to Trump Accounts, despite their ‘little dispute’ appeared first on Business Insider.
