Topline
Billionaire Michael Dell and his wife, Susan, announced Tuesday they committed $6.25 billion to fund new investment accounts for roughly 25 million U.S. children with “Trump accounts,” a Trump administration program unveiled earlier this year to grant funding to newborn Americans.
The Dell CEO unveiled the savings accounts with President Donald Trump earlier this year, with plans to fund $1,000 in investment accounts for U.S. children.
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Key Facts
The Dells will seed Trump accounts with $250 for children who are 10 or under who were born before Jan. 1, 2025, according to the nonprofit advocacy group Invest America.
President Donald Trump announced the “Trump savings accounts,” a component of his “Big Beautiful Bill,” earlier this year with Michael Dell, Goldman Sachs CEO David Solomon and Uber CEO Dara Khosrowshahi, with plans for the Treasury Department to fund $1,000 in investing accounts for children born in the U.S. between Jan. 1, 2025, and Jan. 1, 2029.
The $250 from the Dells will be in addition to the $1,000, according to Invest America, which noted the funding will be available for children in ZIP codes where the median household income is below $150,000.
What To Watch For
Michael Dell will join Trump in the White House later Tuesday to announce the donation, USA Today reported, as the Treasury Department and IRS are expected to publicize formal guidance for the investment accounts. Dell told CNBC he spoke to unnamed philanthropists who he anticipates to pledge additional funds to the accounts.