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Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 5:37 PM.
Elon Musk Calls Report on SpaceX AI Handheld Device 'Utterly False' After Claims of an iPhone Rival Sparks Online Buzz
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Elon Musk, the CEO of Space Exploration Technologies Corp., has refuted reports that his company is developing a handheld AI device. Musk took to X and responded to the reports by labeling them as "utterly false". The original post about the report was deleted later on. Utterly false -- Elon Musk (@elonmusk) July 1, 2026 Earlier this year, Musk said a Starlink phone was "not out of the question" and could be AI-optimized, but later clarified that SpaceX is not developing a smartphone. The Report In Question A report by the Wall Street Journal, published on Wednesday, indicated that SpaceX had presented investors with a prototype of a device similar to Apple Inc.'s iPhone, but "slimmer" before the IPO. As per the WSJ article, this device would run on SpaceX's proprietary system, using AI technology from xAI. The device would also include chips from Qualcomm Inc. according to the report. However, the device is reportedly still in the prototype phase, with no official name assigned, and it remains unclear whether it will ever be released to the public. The report comes after SpaceX President Gwynne Shotwell, last month, reportedly informed investors about the company's plans to launch a Starlink retail product for U.S. consumers and build its own terrestrial mobile network. Trending: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time What Do The Analysts Say? An analyst at TD Cowen predicted that SpaceX could pursue an acquisition of T-Mobile US Inc. to expand its wireless ambitions, leveraging its existing Starlink partnership and targeting the growing mobile connectivity market. In its IPO filing, SpaceX estimated a $740 billion addressable market for Starlink Mobile, signaling plans to expand the service and compete with carriers such as Verizon Communications and AT&T. On the other hand, analysts at Vital Knowledge said SpaceX faces significant hurdles in scaling consumer device manufacturing and competing with established platforms, arguing that Elon Musk's companies often receive generous valuations based on ambitious product promises rather than proven consumer products, reported Forbes. "...it's hard to imagine SpaceX becoming a force in consumer electronics," wrote the firm.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 5:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 3:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 5:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 3:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 3:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 5:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 4:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 3:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 6:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published July 4, 2026 at 5:37 PM.
Trump floats intriguing Elon Musk, SpaceX plan
On July 2, Trump sat down with CNBC for an interview in the Oval Office. He talked about tariffs, the Federal Reserve, and his business dealings. Then he was asked about Elon Musk. His answer says more about the current state of their relationship than almost anything that has come out of Washington recently. Trump told CNBC he expects Musk to donate SpaceX stock to Trump Accounts, the federal savings program for American children that officially launched on July 4. Musk has not publicly confirmed or commented on the claim. But the government had already been in talks with SpaceX about the idea before Trump said a word about it publicly. What Trump said about Musk in the CNBC interview When asked whether Musk might donate SpaceX shares to the program, Trump replied in the original interview: "Well, I think that he will do that." He was careful with that phrasing. He thinks. He did not announce a deal or confirm a commitment. Trump also told the interviewer he had not spoken with Musk directly since SpaceX completed its IPO last month. "I wrote him a note," Trump said. "I said, 'Congratulations, very good.' I have a very good relationship with Elon." A note, not a call. Good, not great. The language was measured. SpaceX's IPO was the largest in history at approximately $86 billion, briefly making Musk the world's first trillionaire before share prices pulled back. Separately, Semafor reported on June 29, before Trump's interview, that the administration had actually spoken directly with SpaceX about donating stock to Trump Accounts. Whether Musk has agreed, or how a contribution might be structured, remains unresolved. Why the Trump-Musk relationship makes this complicated Musk spent roughly $300 million to help elect Trump in 2024 and then served as a special government employee running DOGE, the administration's aggressive government-cutting effort, CNBC reported. Their public falling out came over Trump's sweeping tax-and-spending legislation last year. Musk called the bill "utterly insane" in a post on X. Trump responded publicly that Musk had "just went CRAZY." The dispute was loud and fast. The reconciliation followed a similar trajectory. By the fall, they were seen shaking hands at a public event. By November, Musk was attending a White House dinner. Trump has repeatedly described their relationship as intact. On July 2, he cited other executives who had contributed to Trump Accounts as he discussed Musk's potential involvement. "Micron, which is a great company, just did it. Michael Dell is a fantastic guy," Trump said, referencing other donors to the program. On Dell's contribution specifically, Trump made clear he understood the scale. "That's a tremendous amount, I don't care how rich you are," Trump said, referring to Dell's $6.25 billion pledge to seed 25 million accounts. What Trump Accounts are and why SpaceX stock would be different Trump Accounts were created under last year's Republican tax-and-spending law. The federal government seeds each account with $1,000 for eligible children born in the U.S. between January 1, 2025 and December 31, 2028. The money goes into low-fee U.S. equity index funds and converts to a retirement-style account when the child turns 18. Treasury partnered with Bank of New York Mellon and Robinhood to run the program's infrastructure, NBC News reported. Goldman Sachs, Morgan Stanley, BlackRock, Intel, JPMorgan Chase, Uber, Comcast, and Wells Fargo are among the companies that have committed to matching or contributing for employees' children. Michael Dell pledged $6.25 billion. Micron committed contributions in several states. All of those are cash contributions or stock from publicly traded companies with established markets. SpaceX stock is different. The company's IPO was completed last month, but shares remain volatile and access is still far more limited than conventional large-cap equities. Any formal donation of SpaceX stock to Trump Accounts would require clarity on valuation, lock-up periods, and how shares get distributed across millions of potential beneficiaries. None of that structure currently exists. How much traction Trump Accounts have actually gotten so far Adoption has been gradual. More than 6 million accounts had been opened ahead of the program's launch, but only 1.4 million of those are eligible for the $1,000 government seed, out of roughly 75 million children under 18 in the United States, NBC News reported. The administration has been relying on high-profile commitments to maintain momentum. A SpaceX stock donation would generate significant attention for the program, regardless of what it means practically for most families. SpaceX is one of the most closely watched companies in the world, and Musk remains one of the most recognizable figures in American business. Trump's statement puts Musk in a position where silence starts to carry its own meaning. Whether Musk follows through, and in what form, is the question Trump's July 2 comment left open. The administration has spoken with SpaceX. Trump expects a donation. Musk has said nothing. That is where things stood heading into the program's launch.
