On Monday, President Donald Trump said the federal government has deposited the first $1,000 into more than 500,000 newly created “Trump Accounts,” launching a program aimed at giving eligible American newborns an early start in investing.
Trump Announces First Wave Of Funded ‘Trump Accounts’
Trump announced that the government has funded more than 500,000 Trump Accounts, each receiving an initial $1,000 contribution for eligible children born between Jan. 1, 2025, and Dec. 31, 2028, Reuters reported.
The president marked the milestone by ringing the opening bell from the White House alongside executives from the New York Stock Exchange and Nasdaq.
The investment accounts are designed to help families build long-term wealth by giving children an early stake in the stock market. Parents, relatives and employers can make additional contributions over time.
🇺🇸 THE AMERICAN DREAM STARTS NOW.
— The White House (@WhiteHouse) July 5, 2026
You can officially start investing in your child's future with Trump Accounts and help build the next generation's financial future.
Download the official Trump Accounts app & get started today at https://t.co/71tyohZL8S. pic.twitter.com/4XyP21VdE9
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JD Vance, Scott Bessent Highlight Long-Term Wealth Building
Vice President JD Vance celebrated the rollout on X, saying the administration believes “every American child should have a stake in their country’s future.”
He added that Trump Accounts make it easier for parents to prepare their children for financial success through “a simple app and a policy designed to benefit hardworking American families.”
In the Trump Administration, we believe every American child should have a stake in their country's future. One way we’re making that happen is through Trump Accounts, which give $1,000 to every American child born between January 1, 2025 and December 31, 2028.
— JD Vance (@JDVance) July 6, 2026
Trump Accounts… https://t.co/kLrsIX7x7E
Treasury Secretary Scott Bessent also promoted the initiative, writing that “the American Dream belongs to every child” and encouraging eligible families to enroll through the official Trump Accounts website and mobile app.
The American Dream belongs to every child. Today, we are equipping the next generation to claim their rightful share.
— Treasury Secretary Scott Bessent (@SecScottBessent) July 6, 2026
Thanks to @POTUS, eligible families can now access @TrumpAccounts. Visit https://t.co/qmyWBa4UAy and download the official Trump Accounts app to help your child… pic.twitter.com/amrJ5lAINk
Venture capitalist Chamath Palihapitiya argued that employees should prioritize working for companies willing to contribute to Trump Accounts.
He said annual contributions of $5,000 could potentially grow to $13 million by age 55 through long-term investing.
If you can choose where to work, work somewhere that will help invest in your Trump account. $5k/yr will leave you with $13M at 55. Sorry, but that’s a huge amount of money.
— Chamath Palihapitiya (@chamath) July 6, 2026
If you have this choice but don’t want that because it’s called a "Trump Account", you’re a retard.… https://t.co/hIPdGGyKNM
Peter Schiff Criticizes Funding Strategy
Not everyone welcomed the program.
Economist Peter Schiff argued on X that the federal government’s $1,000 contribution is financed through additional borrowing.
“There is nothing to celebrate,” Schiff wrote, adding that while children receive the investment today, they will also “inherit the debt.”
He argued that reducing government spending would be a better approach than funding the accounts through increased federal borrowing.
Trump rang the opening bell today to ring in his new Trump accounts. But there is nothing to celebrate, as the $1,000 federal contribution to these accounts is funded by issuing more debt. So the kids who get the money also inherit the debt. Cutting spending would be far better.
— Peter Schiff (@PeterSchiff) July 6, 2026
Rep. Bennie Thompson (D-Miss.) also took to X and said, "It’s safe to say, I would pass on a Trump account," noting the $25 million settlement involving Trump University as a reason for his skepticism.
It's safe to say, I would pass on a Trump account.
— Rep. Bennie G. Thompson (@BennieGThompson) July 6, 2026
Trump University already taught us what happens when his name is on the brochure. Does a $25 million settlement ring a bell? https://t.co/ubClyrPPbq
Major Companies Back The Program
Several large U.S. companies have pledged financial support for the initiative through employer contributions or additional funding.
Among them are Dell Technologies Inc. (NASDAQ:DELL), Advanced Micro Devices Inc. (NASDAQ:AMD) and Micron Technology Inc. (NASDAQ:MU), with Micron committing $250 million.
Honored to join @POTUS, @InvestAmerica24 and leaders from across industry and government at the White House today. As America celebrates 250 years, @AMD is proud to support @TrumpAccounts and help build a stronger foundation for our employees' families and the next generation of… pic.twitter.com/PlBW7kmNjt
— Lisa Su (@LisaSu) July 6, 2026
Space Exploration Technologies Corp. (NASDAQ:SPCX) president Gwynne Shotwell also said she and her husband plan to donate SpaceX shares to Trump Accounts benefiting more than 2 million American children.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Joey Sussman on Shutterstock.com
