The Dell family will donate over $6 billion to fund 'Trump Accounts' for millions of kids
Trump's policies may not be popular with people struggling with rising prices and businesses across the country. But billionaires Michael and Susan Dell recently flexed their philanthropic muscles to promote one of the president's initiatives aimed at helping children across the country. The couple has pledged a whopping $6.25 billion to open around 25 million ‘Trump Accounts.’ In an interaction inside the White House, Susan claimed that this was the greatest investment she and her husband could have made that would go towards the betterment of kids.
The program was a part of President Donald Trump’s One Big Beautiful Bill Act, which was passed earlier this year, as per a report in Forbes. The program grants a one-time federal contribution of $1,000 into a new investment account for all children born in the U.S. between January 1, 2025, and December 31, 2028. But for those kids born before the first day of 2025, the Dells have come to the rescue.
The $6.25 billion donation will be distributed among 25 million newly-made Trump accounts, with each of them receiving $250. Children living in ZIP codes with median incomes below $150,000 would be the first to receive this money, as per a report in NBC News. There is an age factor to which kids get this money as well. Children aged 10 or below will be the primary recipients.
However, those aged above 10 can also benefit from this if there are funds available after the initial sign-ups. The kids who are born in the January 2025 to December 2028 window will receive an account infused with a $1,000 investment from the U.S. Treasury. The NBC report also states that these accounts will open on July 4, 2026, and will initially be held by a financial firm designated by the Treasury Department.
Trump accounts see the initial amounts, whether it is $1,000 or $250, grow tax-free, and will be eligible for a maximum of $5,000 per year in contributions until the child in question reaches 18 years of age. Once a child reaches that age, they will be able to use that money for various purposes, like college, for example. They could also choose to keep that money as a retirement fund, as it will keep on growing tax-free.
"These deposits will reach the accounts of most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution," the Dells had said in a statement. "Children older than 10 may benefit, too, if funds remain available after initial sign-ups. It is an incredibly practical and direct step to help families begin saving today," it added. They also "believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future."
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