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US President Donald Trump said he expects Elon Musk to donate SpaceX stock to his new “Trump Accounts” programme, signalling that the world’s richest man could soon join a growing list of technology executives backing one of the administration’s signature economic initiatives for children.
Speaking in an interview with CNBC, Trump said he believed Musk would contribute to the programme after companies such as Micron Technology and entrepreneur Michael Dell pledged billions of dollars in cash and stock for children’s investment accounts.
“Well, I think that he will do that,” Trump said when asked whether Musk would donate SpaceX shares. “Micron, which is a great company, just did it. Michael Dell is a fantastic guy.”
Although Musk has not announced any donation, Trump’s comments come as the White House works to build corporate support for the programme ahead of its official launch on July 4.
A new savings plan for American children
The “Trump Accounts” programme is designed to encourage long-term investing by giving children a financial asset that can grow over time.
Under the scheme, every US citizen born between 2025 and 2028 will receive a $1,000 investment from the federal government. Families, employers, charities and companies can then add more money or donate shares to the accounts as children grow older.
This week, the US Treasury announced that companies will also be allowed to donate publicly traded stock directly into the programme, expanding the ways businesses can participate.
Treasury officials said cash contributions will automatically be invested in a low-cost fund that tracks the S&P 500, allowing children to benefit from the long-term performance of the US stock market. More than six million people have reportedly signed up for the programme before its launch.
Why Trump wants Musk on board
For Trump, securing support from Musk would be about more than just another corporate donation.
Musk remains one of the world’s most influential technology entrepreneurs, with businesses spanning electric vehicles, artificial intelligence, space exploration and social media. His participation would add credibility and visibility to the programme at a time when the administration is encouraging corporate America to help expand wealth creation beyond traditional government benefits.
A donation of SpaceX stock would also be symbolic. The space company recently completed a record-breaking initial public offering, raising US$86 billion and becoming one of the most valuable companies ever to list on the stock market. The listing also made Musk the world’s first trillionaire on paper.
Trump revealed that he personally congratulated Musk after the listing.
“I wrote him a note. I said, ‘Congratulations, very good,’” the president said.
From rivals to allies again
Trump’s comments also highlight how relations between the two men have improved after months of public disagreements.
Musk was one of Trump’s biggest financial supporters during the 2024 presidential campaign and later led efforts to reduce the size of the federal government.
However, their relationship became strained after Musk criticised Trump’s large tax-and-spending package, arguing it would increase the US budget deficit.
Despite those differences, Trump suggested the dispute is now behind them.
“I have a very good relationship with Elon. Elon and I had a little disagreement. He liked me, still likes me,” he said.
Musk has not publicly responded to Trump’s latest remarks or confirmed whether he plans to donate SpaceX shares.
Big Tech’s growing support
Even without Musk’s participation, several prominent business leaders have already committed substantial sums to the programme.
Micron Technology recently pledged US$250 million to support children’s investment accounts.
Dell Technologies founder Michael Dell and his wife Susan Dell have gone much further, announcing plans to contribute US$6.25 billion. Their donation will fund US$250 investment accounts for 25 million American children aged 10 years and younger who are not eligible for the government’s initial US$1,000 payment.
The contributions reflect a broader trend of major corporations aligning themselves with one of Trump’s flagship domestic economic policies.
Executives from Nasdaq and the New York Stock Exchange are also expected to ring the opening bell from the Oval Office next week to mark the programme’s launch.
Why it matters
The “Trump Accounts” initiative represents a shift in how the administration wants to encourage wealth creation. Instead of relying solely on government benefits, the programme aims to introduce children to investing from an early age, with the expectation that long-term market gains will help build savings over decades.
For businesses, contributing to the accounts offers an opportunity to support employees’ families while strengthening ties with the White House.
If Musk ultimately donates SpaceX stock, it would further reinforce the growing alliance between the Trump administration and some of America’s most influential technology leaders — an alliance that could shape not only corporate philanthropy but also the future direction of US economic policy.
