Key facts
- Dell Technologies will contribute $1,000 to Trump Accounts for eligible children of its employees.
- Michael Dell believes this benefit will become standard in corporate America.
- Trump Accounts, launched July 4, are designed to help children grow wealth.
- The US government will deposit $1,000 into accounts for children born between 2025 and 2028.
- Dell's family foundation has donated $6.25 billion to the Trump Accounts program.
- The Dell Foundation's $250 contribution per recipient will be distributed this week.
Dell Technologies is joining other companies in offering financial contributions to "Trump Accounts," a new investment program for children. The company plans to provide a one-time $1,000 contribution for eligible children of its employees, in addition to any government seed contribution they may qualify for. A Dell spokesperson told Business Insider that the company is still working through the logistics and guidance from the US Treasury.
Trump Accounts, launched on July 4, are designed to help children build wealth. The U.S. government will deposit $1,000 into these accounts for American citizens born between 2025 and 2028. Companies like Goldman Sachs, Micron, and Chipotle have also announced plans to match the government's $1,000 contribution for their employees.
Michael Dell, founder of Dell Technologies, expressed his belief that these contributions will become a "standard benefit" at many companies. His family foundation, which he leads with his wife Susan, has donated $6.25 billion to the program and he has frequently appeared with the president to promote it. The Dells' foundation will distribute a $250 contribution to eligible recipients this week. To qualify, recipients must be born between 2016 and 2024 and live in a ZIP code with a median family income of $115,000 or less. Dell told Fox News on Wednesday that 25 million accounts will have received this lump sum by the end of the week.
The Dell Foundation's philanthropic focus on children, education, and economic opportunity aligns with the mission of Trump Accounts. Dell stated that research shows even a small amount of money can lead to greater life outcomes for children. The close association with the president has also provided Dell's company with publicity, with Trump having encouraged people to buy Dell computers on several occasions. Following one such endorsement in April, Dell's shares increased by as much as 9%. Since the foundation's donation announcement in December, the president has purchased over $1 million in Dell stock, and sold at least $50,000 to $100,000 worth in April.