Trump asked Musk for SpaceX stock to seed US kids’ savings accounts, report says
One way Donald Trump plans to celebrate July 4th is by rolling out children’s savings accounts, known as Trump Accounts, and apparently, he’s been angling
One way Donald Trump plans to celebrate July 4th is by rolling out children’s savings accounts, known as Trump Accounts, and apparently, he’s been angling to get a big donation from SpaceX as part of that push. A person familiar with talks involving the Trump administration told Semafor that SpaceX has spoken with US officials about donating stock to Trump Accounts.
At this stage, however, it remains unclear if a donation will be made or what impact a SpaceX donation might have on the value of the accounts, which Trump hopes will be a defining part of his legacy. So far, 6 million children have been signed up for Trump Accounts, which officially launch next week on Independence Day.
Trump accounts are a new type of individual retirement account available to any child under 18 with a Social Security number, and parents can sign up their kids through a Trump Accounts app that's already available for download. As an extra perk, any child born between 2025 and 2028 can receive a one-time $1,000 contribution from the government.
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