Trump’s Prediction on Musk’s Donation
Last week, President Trump stated that he expected Elon Musk, the CEO of SpaceX, to donate SpaceX stock to Trump Accounts, a tax-advantaged investment program created under the 2023 tax law. However, days later, while another top SpaceX executive has pledged hundreds of millions of dollars in stock, Musk himself has yet to publicly confirm any plans to contribute.
During a CNBC interview, Trump was asked directly whether Musk would contribute SpaceX stock to Trump Accounts. Trump replied, ‘Well, I think that he will do that.’ The president stated that he had not spoken with Musk beyond sending him a congratulatory note after SpaceX’s blockbuster IPO briefly pushed Musk’s net worth above $1 trillion, but expressed confidence that a donation would happen.
Trump suggested that their relationship had largely recovered after what he described as a ‘little dispute’ over electric vehicle subsidies. ‘He backed me 100%. He liked me, still likes me,’ Trump said, adding that Musk was unhappy with Trump’s decision to reduce EV incentives but that ‘He’s doing good.’
Musk’s Silence on the Matter
While Trump has publicly expressed his confidence in Musk’s donation, the Tesla and SpaceX CEO has remained silent on the matter. In contrast, SpaceX President Gwynne Shotwell announced this week that she and her husband would donate shares of SpaceX stock to Trump Accounts for more than 2 million children ages 11 through 17 in lower-income communities.
Trump praised the contribution on his social media platform Truth Social, thanking Shotwell and her husband for what he called their ‘extreme generosity.’ The president stated that the donation was worth $325 million in SpaceX stock, though Shotwell herself did not attach a dollar figure to the gift when announcing it on X. Based on SpaceX’s share price Wednesday, the stock would be worth roughly $296 million, reflecting recent market fluctuations.
Corporate Support for Trump Accounts
Trump Accounts continue to attract corporate support, providing every eligible child born between Jan. 1, 2025, and Dec. 31, 2028, with a $1,000 federal contribution invested in low-cost U.S. stock index funds. Families, employers, and private donors can contribute additional money, subject to annual limits.
Several major companies have already committed support for the program. Michael and Susan Dell, of Dell Technologies, have pledged $6.25 billion, while companies including Uber, Comcast, and Wells Fargo have said they’ll contribute to employees’ children’s accounts. BlackRock, Intel, and JPMorgan Chase have also announced plans to match the government’s initial deposit for eligible employees’ children.
