Dell founder Michael Dell announced they will be giving $6.25 billion to help fund President Donald Trump’s bank accounts for children, benefitting roughly 25 million kids.
Hours ahead of the president’s Oval Office announcement, the founder of Dell Technologies and his wife, Susan Dell, announced that they would make the massive investment in “Trump accounts” to expand the amount of seed money children can receive.
Starting next year, the government is launching “Trump accounts,” tax-deferred investment accounts for any eligible American children. Those born between January 1, 2025, and December 31, 2028, will receive 1,000 from the federal government, but the Dells’ donation allows children up to 10 years old to receive an additional $250 – though it is limited by household income and certain zip codes.
“We’ve seen what happens when a child gets even a small financial head start; their world expands,” Michael Dell said in the video posted on X.
Michael Dell had previously signaled he would invest in “Trump accounts.” In the video, he encouraged other leaders to invest in the retirement accounts.
“To philanthropists, companies, community leaders, if you want to be part of something truly meaningful, for our kids, for our communities, for our country – join us,” Michael Dell said in the video.
The donation marks one of the largest philanthropic investments ever to go directly to Americans.
The White House confirmed that Dell would join Trump in the Oval Office Tuesday afternoon to announce their $6 billion donation.
"The One Big Beautiful Bill’s Trump Accounts are a revolutionary investment by the federal government into the next generation of American children,” White House Spokesperson Kush Desai said in a statement.
“It’s also President Trump’s call to action for American businesses and philanthropists to do their part, too – Michael and Susan Dell’s $6 billion investment into America’s children is the first of many announcements to come for America’s children.”
The idea for accessible investment accounts arose from Brad Gerstner, the CEO of Altimeter Capital. Gerstenr set up a nonprofit, Invest America, to push for the creation of bank accounts in which the federal government would give $1,000 to each child, according to the New York Times.
Michael Dell, a friend of Gerstner, liked the idea and joined the initiative.
Gerstner initially reached out to the Biden administration for support on the investment accounts, but failed to rally enough support among members of Congress. Ultimately, the Trump administration was receptive to the idea, and Republican Senator Ted Cruz introduced the “Invest America Act.”
The accounts are set to open next year – though there are few details about the process for opening one and how it will invest in the stock market.
To qualify, a baby needs a Social Security number. Only those born between 2025 and 2028 will receive the government’s $1,000 starting funds. Parents and others may contribute up to $5,000 per year until the child turns 18 years old.
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