President Donald Trump on Monday, October 19, thanked SpaceX CEO Elon Musk for pledging to give his company’s stock to every child participating in the Trump Accounts retirement program. Musk earlier made the promise on X, saying, “Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.”
“A BIG THANK YOU to our legendary friend, @ElonMusk, for his incredible generosity in giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS! This is exactly what was envisioned when we created TRUMP ACCOUNTS — Bringing together the GREAT PRIVATE SECTOR, Elon and so many more, to invest in our children, by far our greatest and most important asset, and give every American Child a piece of the American Dream. Thank you Elon! President DONALD J. TRUMP,” Trump wrote on social media.
What we know about the Trump Accounts
Musk owns up to 6.4 billion shares in SpaceX as of June 30, according to the aerospace company’s Securities and Exchange Commissionfiling in August. His latest announcement comes months after SpaceX President Gwynne Shotwell said she and her husband would donate their shares to over 2 million children, primarily those in central Texas.
{{/usCountry}}Musk owns up to 6.4 billion shares in SpaceX as of June 30, according to the aerospace company’s Securities and Exchange Commissionfiling in August. His latest announcement comes months after SpaceX President Gwynne Shotwell said she and her husband would donate their shares to over 2 million children, primarily those in central Texas.
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Near 70 million children have received Trump Accounts since the program was launched on July 4 by the White House. The government deposits $1,000 into each Trump Account for children born between January 1, 2025, and December 31, 2028, before parents or others can start contributing up to $5,000 a year until the child becomes of age. The funds can be used once the beneficiary turns 18.
The program aims to help families invest in their children’s future, and Musk has backed the initiative since it was announced.
Trump’s praise for Musk is a sign of a friendly relationship between the two after they ended up in a feud over federal policy earlier. The pair later made amends.
Musk broke with Trump after their disagreement over he White House’s flagship tax and spending bill, which Musk called “utterly insane and destructive.” The feud largely played out on social media, and even saw Musk claim that Trump is named in the Epstein files. Musk later even announced that he was launching his own “America First” party, but nothing much seemed to materialize afterwards.