politics
Trump Predicts Elon Musk Will Donate SpaceX Stock to Child Investment Accounts
President Donald Trump stated in a CNBC interview aired July 2 that he believes Elon Musk will contribute SpaceX shares to the government savings program. The comments followed SpaceX's $85 billion IPO last month and referenced other corporate pledges to the accounts.
Jul 3, 8:57 AM·1m read3 sources
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President Donald Trump said he believes Elon Musk will donate SpaceX stock to Trump Accounts, the tax-advantaged investment program for American children. The statement came in a CNBC interview that aired Thursday, July 2. Trump said he had not spoken directly with Musk since SpaceX's $85 billion IPO last month made Musk the world's first trillionaire, though he sent a note of congratulations.
Trump Accounts were created under last year's Republican tax and spending law. They receive a $1,000 Treasury seed for every child born between January 1, 2025, and December 31, 2028, with funds placed in low-fee U.S. equity index funds that convert to retirement accounts at age 18.
Trump also highlighted other contributions to the program. He singled out Michael Dell for a $6.25 billion pledge and noted a donation commitment from Micron. Uber, Comcast, and Wells Fargo have said they will contribute to employees' children's accounts, while BlackRock, Intel, and JPMorgan Chase will match the government's $1,000 deposit.
Trump described his past disagreement with Musk as a "little dispute" over the removal of electric vehicle subsidies and mandates.
