U.S. President Donald Trump said in a CNBC interview on July 3 that he believes Elon Musk will donate SpaceX stock to the "Trump Account" plan, stating, "I think he will." On the same day, according to The Washington Post, the Treasury Department announced that companies can donate publicly traded stocks to the "Trump Account"; stock donations will be managed by the Treasury Department, which will then transfer the funds into the account based on the donor's instructions, applicable law, and Treasury guidance.
Treasury Department: Companies Can Donate Publicly Traded Stocks to Trump Account, Funds Transferred by Treasury per Instructions
According to The Washington Post, Treasury officials announced on July 3 that companies can donate publicly traded stocks to the "Trump Account"; stock donations will be handed over to the Treasury Department, which will then transfer the funds to the corresponding account based on the donor's instructions, applicable law, and Treasury guidance.
Treasury Secretary Scott Bessent said in a statement: "Today's announcement makes it easier for philanthropists to help American children build long-term financial security." Additionally, cash donations will be automatically invested in SPYM, as it is the lowest-cost S&P 500 Index ETF.
Trump Account Eligibility, Launch Date, and Federal Seed Fund Details
According to Treasury officials' explanations and reports, the main specifications for the "Trump Account" are as follows:
Eligibility: All U.S. citizens under 18 years old can apply.
Official Launch Date: July 5, 2026 (Saturday)
Registered Users: Over 6 million as of the time of reporting
Federal Seed Fund: Approximately 1.4 million accounts are eligible to receive a $1,000 federal seed fund, limited to children born between 2025 and 2028
Donor Scope: Companies, non-profit organizations, and state and local governments can donate to accounts
Cash Donation Investment Method: Automatically invested in SPYM (the lowest-cost S&P 500 Index ETF)
Trump CNBC Interview: Musk to Donate SpaceX Stock to Trump Account
According to the CNBC interview, when asked whether Musk would participate in the Trump Account plan, Trump replied: "Well, I think he will." Trump also mentioned Micron Technology and Michael Dell, stating that both have pledged to provide funding for the plan, and said, "Michael Dell is also a great person."
Trump also revealed that he has not spoken to Musk since he became a "trillionaire," but then said his relationship with Musk is "very good." According to Semafor, the government has previously discussed with SpaceX about donating stocks to children's investment accounts.
Frequently Asked Questions
What is the Trump Account, and when will it officially launch?
According to Treasury officials, the "Trump Account" is a new type of children's investment tool open to all U.S. citizens under 18. Companies, non-profit organizations, and state and local governments can donate to accounts. The account is expected to officially launch on July 5, 2026 (Saturday), and as of the time of reporting, over 6 million people have completed registration.
Which children are eligible for the $1,000 federal seed fund?
According to Treasury officials, approximately 1.4 million Trump Accounts are eligible to receive a $1,000 federal seed fund, with eligibility limited to children born between 2025 and 2028.
How can companies donate stocks to the Trump Account?
According to The Washington Post, Treasury officials announced on July 3 that companies can donate publicly traded stocks to the Trump Account; stock donations will be managed by the Treasury Department, then transferred to the corresponding account based on the donor's instructions, applicable law, and Treasury guidance. Cash donations will be automatically invested in the lowest-cost S&P 500 Index ETF (SPYM).
