Donald Trump Congratulates Trillionaire Elon Musk, Expects SpaceX Stock Donation for Initiative (Watch Video)
US President Donald Trump expects Elon Musk to donate SpaceX stock to the 'Trump accounts' children's savings initiative launching July 4. Tech leaders from Micron and Dell have already pledged major support. Despite past policy disputes, Trump confirmed his relationship with Musk, the world's first trillionaire, remains strong.
US President Donald Trump stated Thursday, July 2, that he expects billionaire Elon Musk to contribute SpaceX stock to the newly established "Trump accounts" initiative, following a wave of major technology executives who have embraced the government's new investment vehicles for children. The program is set to officially launch on July 4. “Well, I think that he will do that,” Trump said in an interview Thursday on CNBC when asked about the possibility of Musk’s participation. “Micron, which is a great company, just did it. Michael Dell is a fantastic guy,” the president added, pointing to other high-profile tech leaders who have already pledged funds to the effort.
A Rebuilt Alliance with the World's First Trillionaire
The remarks follow a historic milestone for SpaceX, which went public last month in the largest initial public offering (IPO) on record, raising USD 86 billion and solidifying Musk's position as the world's first trillionaire. Trump noted that he reached out to the SpaceX founder following the listing. Donald Trump Shares AI-Generated Video Portraying Himself As Doctor Diagnosing ‘Trump Derangement Syndrome’.
Donald Trump Says He Congratulated Elon Musk on Becoming a Trillionaire
BREAKING: President Trump says he has a “very good” relationship with Elon Musk and congratulated him on becoming a trillionaire. pic.twitter.com/zJxRHBtUvU
— Insider Paper (@TheInsiderPaper) July 2, 2026
“I wrote him a note. I said, ‘Congratulations, very good.’ I have a very good relationship with Elon. Elon and I had a little disagreement,” Trump said. “He liked me, still likes me," he added. The statement reflects a complex operational history between the administration and the world’s wealthiest individual. Musk heavily backed Trump’s 2024 presidential campaign and later spearheaded an administrative effort to significantly downsize the federal government. However, the two experienced a public falling out last year over Trump’s expansive tax-and-spending package, which Musk publicly warned would drive up the US national deficit. The relationship has since stabilised, with Musk attending a high-profile White House dinner for Saudi Crown Prince Mohammed bin Salman last November. Musk did not immediately respond to requests for comment late Thursday evening.
Corporate Backing for the July 4 Launch
The tax-advantaged Trump savings accounts are scheduled to go live on July 4. Under the parameters of the initiative, every US citizen born between 2025 and 2028 - the timeline spanning Trump's second term—is eligible to receive an initial USD 1,000 seed investment from the federal government. Older children will also be permitted to utilise the investment infrastructure. A growing roster of corporate and financial leaders has moved to support the policy, with multiple companies pledging capital to fund accounts for the public or for the children of their respective workforces. Earlier this week, Micron Technology Inc. announced a USD 250 million direct investment into the program. Additionally, Dell Technologies Inc. founder Michael Dell pledged to provide USD 250 each to 25 million American children to jumpstart their respective accounts. Donald Trump Defends USD 1.2 Billion Crypto Earnings As His Net Worth Triples to USD 6.5 Billion.
Wall Street Signals Support
The widespread participation of prominent technology and financial executives highlights an ongoing effort by the corporate elite to align with the president's signature economic policies. The momentum behind the initiative will be on display next week, when chief executives from both the Nasdaq and the New York Stock Exchange are scheduled to orchestrate a joint event, ringing the market opening bells directly from the Oval Office to mark the formal launch of the investment program.
(The above story first appeared on LatestLY on Jul 03, 2026 07:19 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
