Key facts
- Michael and Susan Dell are donating $6.25 billion to provide $250 to 25 million children.
- Eligible recipients were born between 2016 and 2024.
- All payments are expected to be made by Friday, October 9.
- The program initially focused on children in the lowest-income ZIP codes.
- The last ZIP codes included had median family incomes of $115,000 or less.
- Funds are being held for children in foster care, with contributions expected next year.
Michael and Susan Dell are distributing $250 to 25 million children through "Trump Accounts" this week as part of a $6.25 billion donation aimed at encouraging saving and investing.
Parents can determine their child's eligibility by visiting a Q&A page on the Invest America website. The program targets children born between 2016 and 2024, making them 10 years old or younger. All payments are scheduled to be completed by Friday, October 9, with parents advised to check their children's accounts early the following week.
The Dells' contribution was initially directed to children in the nation's lowest-income ZIP codes and was progressively expanded. The final ZIP codes to be included had median family incomes of $115,000 or less, falling below the original $150,000 cap. Information on median family income for specific ZIP codes is available through Census Reporter.
Children living on military bases are also receiving the $250 donation. Funds have been reserved for children in foster care, with their contributions anticipated next year.
Michael Dell, founder of Dell and ranked fifth on the Bloomberg Billionaires Index with a $268 billion net worth, expressed his hope that the gift would set children on a path toward saving, investing, and understanding compounding. Supporters of the "Trump Accounts" program believe it will help reduce the wealth gap by increasing investment in the stock market among low-income Americans.