Trump expects Musk to donate SpaceX shares to children's investment accounts

U.S. President Donald Trump expressed his expectation that Elon Musk, the world's wealthiest individual, will donate SpaceX shares to the "Trump Accounts" initiative. These accounts are designed to enable parents to start financial investments for their children, who can later withdraw the benefits with tax advantages upon reaching the age of majority.

"I think he will do it," Trump stated when asked about Musk's potential contribution to the accounts, which were promoted by his administration. The interview took place with CNBC from the Oval Office. The U.S. Treasury Department announced that companies are permitted to donate publicly traded shares to these new investment accounts for children, known as "Trump Accounts." The program is scheduled to launch on Saturday, July 4, coinciding with U.S. Independence Day.

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I think he will do it.

Approximately 1.4 million accounts are eligible for an initial federal contribution of $1,000. This funding is intended for children born between 2025 and 2028. Trump also highlighted a commitment from billionaires Michael and Susan Dell, who pledged $6.25 billion to provide 25 million American children aged 10 or younger with an incentive to open one of these child investment accounts.

The U.S. president acknowledged having had a "small dispute" with the CEO of Tesla and SpaceX but affirmed that they maintain a "very good relationship." He also mentioned sending Musk a congratulatory note when the magnate became the world's first trillionaire last June.

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I had a 'small dispute' with the CEO of Tesla and SpaceX, but I maintain a 'very good relationship'.