On Thursday, President Donald Trump said he believes Elon Musk will eventually donate Space Exploration Technologies Corp. (NASDAQ:SPCX) stock to the new Trump Accounts program.
Trump Says He Expects Elon Musk To Back Trump Accounts
Speaking in an interview with CNBC’s Joe Kernen from the Oval Office, Trump said he has not spoken with Musk recently but maintains a positive relationship with the Tesla Inc. (NASDAQ:TSLA) and SpaceX CEO despite their recent policy disagreements.
“I haven’t,” Trump said when asked whether he had spoken with Musk since the entrepreneur became a trillionaire. “I wrote him a note. I said, ‘Congratulations, very good.’ I have a very good relationship with Elon.”
Trump acknowledged that the two clashed over his administration’s rollback of electric vehicle mandates.
“We had a little dispute because he backed me 100%,” Trump said. “I did a little thing called the electric mandate. We’re not going to have an electric mandate where everybody has to have an electric car.”
When Kernen asked whether Trump had discussed donating SpaceX stock to the Trump Accounts initiative with Musk, the president replied, “Well, I think that he will do that.”
Trump did not indicate that Musk or SpaceX had committed, instead expressing his expectation that such a donation could happen.
Trump Highlights Dell, Micron Support For Child Investment Accounts
Trump pointed to commitments from several major companies that have already pledged support for the program, singling out Dell Technologies (NASDAQ:DELL) and Micron Technology Inc (NASDAQ:MU).
SoFi Technologies (NASDAQ:SOFI) and JPMorgan Chase & Co. (NYSE:JPM) have also announced similar commitments.
Dell had committed approximately $6.25 billion, while Micron had pledged $250 million, adding that more companies are expected to participate.
“So many companies are doing it,” Trump said. “Kids that won’t have any money… have a chance of being sort of rich. It’s an amazing thing.”
Earlier this week, reports said SpaceX was in discussions with the Trump administration about a potential contribution to the program. However, neither Musk nor SpaceX has publicly confirmed a donation.
SpaceX did not immediately respond to Benzinga’s request for comments.
What Are Trump Accounts
The Trump Accounts program, created under Trump’s One Big Beautiful Bill Act, provides eligible children with a $1,000 government-funded, tax-deferred investment account.
Families, employers and outside donors can make additional contributions over time.
The initiative is being rolled out by the Treasury Department in partnership with Bank of New York Mellon (NYSE:BNY) and Robinhood Markets Inc. (NASDAQ:HOOD).
Price Action: SpaceX shares closed Thursday up 2.83% at $162 and slipped 0.65% to $160.95 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, SpaceX shares continue to trend bearish across the short, medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: noamgalai on Shutterstock.com
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