Key facts
- "Trump Accounts," a new investment savings account for children, was launched on July 4.
- The Dell family pledged $6.25 billion, contributing $250 to 25 million children.
- Ray and Barbara Dalio are pledging $250 to approximately 300,000 children in Connecticut.
- Brad Gerstner is contributing $250 to children under 5 in Indiana.
- The federal government will provide a $1,000 seed contribution for eligible children born between 2025 and 2028.
- Micron announced a significant donation to the program.
On July 4, the federal government launched "Trump Accounts," a new investment savings program for children, with President Donald Trump marking the occasion. The initiative allows parents to contribute up to $5,000 annually per child, and employers up to $2,500. For children born between 2025 and 2028, the government will provide a $1,000 seed contribution.
Several wealthy individuals have pledged substantial philanthropic contributions. Michael and Susan Dell committed $6.25 billion, planning to contribute $250 to 25 million children, specifically targeting those 10 years or younger in ZIP codes with a median income of $150,000 or less and born before January 1, 2025. Michael Dell stated, "Together we can make possibility something that every child can count on."
Hedge fund manager Ray Dalio and his wife Barbara are pledging $250 to approximately 300,000 children in Connecticut, prioritizing those under 10 in lower-income ZIP codes. Dalio commented, "Barbara and I believe strongly in the importance of equal opportunity and believe this initiative is an important step in that direction."
Brad Gerstner, CEO of Altimeter Capital, is contributing $250 to all children under 5 years old in Indiana, an amount estimated to be in the "tens of millions." Gerstner is widely credited with originating the idea for Trump Accounts and helped coordinate the Dells' contribution.
Micron Technology announced it would make a significant donation to the program, with President Trump highlighting the U.S. chip maker's contribution.