President Donald Trump took to social media on Monday to thank Elon Musk for pledging Space Exploration Technologies Corp. stock to American children, calling the billionaire a "legendary friend." The shoutout came as Treasury Secretary Scott Bessent said the donation would add to the more than $8 billion already deposited into Trump Accounts.

Trump Praises Musk's SpaceX Stock Donation

Trump praised Musk's commitment to donate SpaceX shares to children across the U.S. through the Trump Accounts program, saying the gesture reflected his administration's vision of bringing together the private sector and philanthropists to help children build financial security.

"This is exactly what was envisioned when we created TRUMP ACCOUNTS," Trump wrote, adding that the initiative aims to give every American child "a piece of the American Dream."

In his post, Trump wrote: "A BIG THANK YOU to our legendary friend, @ElonMusk, for his incredible generosity in giving SpaceX Stock to millions of American children through TRUMP ACCOUNTS! This is exactly what was envisioned when we created TRUMP ACCOUNTS — Bringing together the GREAT PRIVATE SECTOR, Elon…"

Bessent Says Trump Accounts Have Received Over $8 Billion

Separately, Bessent thanked Musk for investing in the next generation, saying the pledge would increase the funds flowing into the children's accounts.

"More than $8 billion has already been deposited into children's accounts, and this extraordinary donation will push that total even higher," Bessent said on X.

He added: "Thank you, @elonmusk, for investing in the next generation. More than $8 billion has already been deposited into children's accounts, and this extraordinary donation will push that total even higher. As @TrumpAccounts continues to grow we look forward to more philanthropists…"

Michael Dell, Gwynne Shotwell Among Previous Contributors

Trump Accounts are tax-advantaged investment accounts designed to help eligible American children build wealth for their future.

Trump has earlier said the Treasury Department automatically created accounts for more than 60 million children, bringing the nationwide total to nearly 70 million.

The program has also attracted contributions from other prominent business figures. Michael and Susan Dell pledged $250 for each of 25 million children, while SpaceX president Gwynne Shotwell and her husband pledged one SpaceX share for more than 2 million American children in July.

That contribution was valued at approximately $325 million at the time by Trump.