President Donald Trump has suggested that Elon Musk could possibly donate SpaceX NASDAQ:SPCX stock to the Trump accounts initiative, adding another high-profile name to the list of business leaders backing the new investment vehicles for children. In a CNBC interview Thursday, Trump pointed to Micron Technology NASDAQ:MU, which announced a $250 million investment in the accounts, and Dell Technologies NYSE:DELL founder Michael Dell (Trades, Portfolio), who has said he will give 25 million American children $250 each to help start their accounts.
The comments come shortly after SpaceX raised $86 billion in its IPO last month, a deal the source article described as the biggest-ever IPO and one that made Musk the world's first trillionaire. Trump said he congratulated Musk with a note and described their relationship as good, while also acknowledging their earlier disagreement over his tax-and-spending package, which Musk had said would increase the US deficit.
The Trump savings accounts are set to launch on July 4, with every US citizen born between 2025 and 2028 eligible to receive an initial $1,000 government investment, while older children can also use the accounts. Executives from Nasdaq NASDAQ:NDAQ and the New York Stock Exchange are expected to ring the opening bell from the Oval Office next week, possibly turning the rollout into another market-facing moment for investors watching the intersection of policy, corporate support, and capital markets.