Trump administration officials have spoken with SpaceX about a potential donation of company stock to children's savings accounts known as Trump Accounts, according to a Semafor report citing a person familiar with the matter. The discussions were reported overnight heading into Monday, when SPCX stock jumped 7% amid volatile trading to close at $164.19. The potential donation comes as the Trump Accounts program is expected to launch next week, and follows a period of tension between SpaceX CEO Elon Musk and U.S. President Donald Trump after their relationship soured during Musk's stint running DOGE, the administration's budget-cutting effort. It remains unclear whether Musk has agreed to contribute SpaceX stock or how any donation would be structured. The Trump Accounts initiative has already attracted major private-sector support, with over 6 million children reportedly enrolled so far.
Trump Officials Discuss SpaceX Stock Donation for Trump Accounts
The Trump administration has spoken with SpaceX about donating stock to children's savings accounts known as Trump Accounts, Semafor reported, citing a person familiar with the matter. The accounts are expected to launch next week as part of a broader government-backed investment program for children.
It remains unclear whether Musk has agreed to contribute SpaceX stock or how any donation would be structured. The Treasury Department has partnered with Bank of New York Mellon and Robinhood on the rollout.
The report also comes shortly after Musk pushed back against claims that government support helped build Tesla and SpaceX. Musk called such claims "totally false," saying every government incentive his companies ever received amounted to "less than 2%" of the value of Tesla and SpaceX. He also argued that some incentives benefited rivals more than his own companies.
Trump Accounts Program Secures $6.25 Billion Dell Donation and 6 Million Enrollments
Trump Accounts are being pitched as a major legacy program for the administration, aimed at creating investment accounts for children. The initiative has already drawn big private-sector support. Billionaire Michael Dell and his wife donated $6.25 billion in cash, while companies including BlackRock and Bank of America have agreed to match donations made by employees. More than 6 million children have reportedly enrolled so far.
White House economic adviser Kevin Hassett also teased a high-profile launch event next week, saying Nasdaq and the New York Stock Exchange would ring the opening bell from the Oval Office "for the first time together" to mark the rollout.
Musk-Trump Relationship History: From DOGE Fallout to Reconciliation Signals
Any SpaceX stock donation would carry political weight, potentially cementing the ongoing thaw between Musk and U.S. President Donald Trump after their relationship imploded last year. Musk was an early Trump ally and donor, but the relationship soured after his four-month stint as a special government employee running DOGE, the administration's controversial budget-cutting effort.
The fallout became public when Musk criticized Trump's tax-and-spending package as a "disgusting abomination," warning that it would worsen federal deficits. Trump later said Musk was upset because the administration "took the EV mandate," a claim Musk rejected.
Retail Traders Show Bearish Sentiment on SPCX Stock
On Stocktwits, retail sentiment for SPCX was 'bearish' amid a 278% jump in 24-hour message volumes. One user said, "$SPCX Elon is putting shares in retails hands and more now with trump accounts which will just lock up the float and make it even harder for institutions that thrive on buying big blocks and dumping them surgically."
Another user said, "$SPCX This stock is radioactive right now, I've never seen something more polarizing. If we get a good dip I will consider re-entry."
FAQ
What did Trump officials discuss with SpaceX?
Trump administration officials spoke with SpaceX about a potential donation of company stock to children's savings accounts known as Trump Accounts, according to a Semafor report citing a person familiar with the matter. It remains unclear whether Musk has agreed to contribute SpaceX stock or how any donation would be structured.
How much support has the Trump Accounts program received?
The Trump Accounts initiative has secured $6.25 billion in cash from billionaire Michael Dell and his wife. Companies including BlackRock and Bank of America have agreed to match donations made by employees. More than 6 million children have reportedly enrolled so far.
Why did the Musk-Trump relationship sour?
The relationship soured after Musk's four-month stint as a special government employee running DOGE, the administration's budget-cutting effort. The fallout became public when Musk criticized Trump's tax-and-spending package as a "disgusting abomination," warning that it would worsen federal deficits.
