Trump Accounts program draws expected SpaceX stock support amid Musk ties

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Highlights

Trump expects Elon Musk to donate SpaceX stock to Trump Accounts after the company's $85 billion IPO last month, despite recent tensions.
Trump cites Michael Dell's $6.25 billion donation and commitments from Uber, Comcast, Wells Fargo, BlackRock, Intel, and JPMorgan Chase to the Trump Accounts program.
Trump Accounts offer a $1,000 Treasury seed deposit for American children born between January 1, 2025, and December 31, 2028, with investments in low-fee U.S. equity index funds.

Program backing and expected SpaceX contribution

According to Business Insider, citing CNBC, in an interview that aired Thursday, Trump says he expects Musk to donate SpaceX stock to Trump Accounts, even though the two recently had what the president describes as a "little dispute." Trump also says he has not spoken with Musk directly since SpaceX's record-breaking IPO last month, but sent him a congratulatory note after Musk briefly becomes the world's first trillionaire.

When asked whether Musk might donate SpaceX stock to the program, Trump says, "Well, I think that he will do that." SpaceX shares remain volatile after the company's $85 billion IPO last month, but the business still ranks among the world's most valuable companies. SpaceX does not immediately respond to a Business Insider request for comment.

Trump Accounts were created under last year's Republican tax and spending law. The tax-advantaged investment accounts receive a $1,000 Treasury seed deposit for every American child born between January 1, 2025, and December 31, 2028, with the funds invested in low-fee U.S. equity index funds before converting into a retirement-style account when the child turns 18.

Corporate commitments and political context

Trump highlights Michael Dell for what he calls a $6.25 billion donation to the program and also points to a pledge from Micron. Other companies including Uber, Comcast, and Wells Fargo have confirmed they will contribute to employees' children's accounts, while BlackRock, Intel, and JPMorgan Chase say they will match the government's $1,000 deposit.

Trump says his relationship with Musk remains strong despite tensions over electric-vehicle policy. He describes their falling-out as rooted in his decision to remove subsidies and mandates for electric vehicles, after Musk backed his presidential campaign and later led an initiative aimed at reducing government spending.

In the CNBC interview, Trump says Musk "backed me 100%. He liked me, still likes me," while adding that Musk was "not thrilled" when the administration follows through on campaign promises to reduce electric-vehicle incentives. Trump says he understands Musk's reaction but adds that the entrepreneur is "doing good."

Our earlier report on Trump’s crypto earnings and disclosures examined the growing ethics debate after filings showed he has made more than $2.2 billion since returning to the White House, with a large share linked to digital-asset ventures. We also noted calls for tighter safeguards—such as limits on officials profiting from businesses affected by federal policy and renewed discussion of blind-trust standards—amid concerns about conflicts of interest.

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