SpaceX in Talks to Donate Stock to Trump's New Children's Savings Accounts

The Trump administration is in discussions with SpaceX about donating company stock to the so-called Trump Accounts — federally backed children's savings vehicles set to launch as early as next Monday. The talks remain unresolved: it's unclear whether Elon Musk has agreed to contribute, or how any donation would be structured. The Treasury Department is overseeing the rollout in partnership with Bank of New York Mellon and Robinhood.

Any SpaceX contribution would carry significant symbolic weight beyond the financial. It would mark a concrete gesture of rapprochement between Musk and President Trump after their very public falling out — Musk departed his role running the DOGE cost-cutting initiative acrimoniously, capping a four-month stint as a special government employee. SpaceX, fresh off a record-setting IPO, is now valued at $2.2 trillion, making even a small equity stake a substantial potential gift.

The idea of tech and AI firms donating equity stakes to government-administered accounts has been circulating since at least last year, when OpenAI CEO Sam Altman first floated the concept. A promised White House summit with AI executives never came together, and internal debates over how to structure such contributions exposed a rift: Treasury Secretary Scott Bessent favored routing equity into Trump Accounts, while Commerce Secretary Howard Lutnick preferred a sovereign wealth fund vehicle.

The accounts have already gained real traction. More than 6 million children have enrolled. Michael Dell and his wife pledged $6.25 billion in cash, and firms including BlackRock and Bank of America are matching employee donations. The Trump administration is planning a high-profile launch event featuring a simultaneous Oval Office opening bell ceremony with both the Nasdaq and New York Stock Exchange — a first — signaling how central the accounts are to Trump's domestic legacy pitch.