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Trump Says He Expects Musk to Support Trump Accounts With SpaceX Stock
Business Insider • • business
Key Points:
- President Donald Trump expressed optimism that Elon Musk will donate SpaceX stock to Trump Accounts, a US government savings program for children, though he has not spoken directly with Musk since SpaceX's IPO.
- Trump Accounts, established under last year's Republican tax and spending law, provides tax-advantaged investment accounts seeded with $1,000 from the Treasury for every American child born between 2025 and 2028, with funds invested in low-fee US equity index funds.
- Trump highlighted significant corporate contributions to the program, including a $6.25 billion donation from Michael Dell and pledges from companies like Micron, Uber, Comcast, and Wells Fargo, with some employers matching the government's initial deposit.
- Trump described his relationship with Musk as strong despite a past dispute over electric vehicle subsidies, noting Musk's previous support for his presidential campaign and efforts to cut government spending.
- SpaceX has not yet responded to requests for comment regarding the potential stock donation to Trump Accounts.
