SpaceX could soon be helping to bankroll one of President Trump's signature policy ideas. Semafor reports that the Trump administration has held talks with Elon Musk's company about contributing SpaceX stock to the new "Trump Accounts," government-backed savings accounts for children set to launch on July 4. Any deal would underscore the renewed thaw between Musk and Trump after their bitter split last year, following Musk's brief role leading a controversial cost-cutting drive known as DOGE.
Whether Musk will actually pledge any of SpaceX's now sky-high equity—the company is valued at roughly $2.2 trillion after a blockbuster IPO—remains unresolved, and officials haven't disclosed how such a gift might be structured. The Treasury Department has teamed up with BNY Mellon and Robinhood for the rollout, and more than 6 million kids are reportedly already enrolled. The program has drawn major private backing: Michael Dell and his wife have committed $6.25 billion in cash, and firms including BlackRock and Bank of America plan to match employee donations.
SpaceX, the administration, and Treasury declined to comment to Semaphor. The White House is planning a joint Nasdaq-NYSE opening-bell ceremony from the Oval Office next week to mark the launch of the accounts, reports CNN. AL.com has more on who qualifies and how the accounts work, while MarketWatch offers a "hack that can unlock decades of wealth-building for your kid." Meanwhile, the Philadelphia Inquirer reveals a perhaps surprising advocate of the Trump Accounts: Democratic Sen. John Fetterman, who says he's going to sign his own young ones up.
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