Michael and Susan Dell are donating $6.25 billion to fund 'Trump Accounts' for 25 million U.S. children. The gift would put $250 into each eligible child's account.
Michael and Susan Dell are donating $6.25 billion to fund"Trump Accounts" for 25 million U.S. children. The gift would put $250 into each eligible child's account.iframe src="https://www.npr.org/player/embed/nx-s1-5628412/nx-s1-9555772" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">Michael and Susan Dell pose for photographs on Nov.
26 in New York. The couple said they will donate $6.25 billion to fund investment accounts for 25 million U.S. children.The gift would put $250 into each eligible child's account, which is meant to grow over time through investments in low-cost stock funds that track market indexes. "The idea is to give millions of children a head start on saving for the future," Michael Dell told NPR."And we know that when children have accounts like this, even with modest sums, they have better outcomes in life."To receive the Dell gift, children need to have Social Security numbers and be age 10 or under and born before Jan. 1, 2025. Dell told NPR they're trying to reach kids who need the money the most, which is why the gift targets recipients who live in ZIP codes where the median income is less than $150,000.As part of the One Big Beautiful Bill Act signed into law this past summer, every American baby born from this year through 2028 is in line to automatically receiveAll kids under 18 who have a Social Security number can have one of the accounts — but they don't get that initial $1,000."What we're doing with this gift is targeting kids that are 10 and under that aren't part of the federal program," Dell said. Susan Dell encouraged parents to"mark their calendars for July 4, 2026, which is when they could claim the accounts for their children."Money in Trump Accounts would grow over time, using contributions to invest in low-cost stock funds that track market indexes. When the children turn 18, they can either convert the money into a retirement account or use the money for education, buying a home, or starting a business.Personal finance experts say the Trump Accounts are sort of a hybrid of existing plans. And the potential benefits would vary widely depending on how much a family can contribute., maximum contributions to a Trump Account could make it worth nearly $1.1 million by the time a beneficiary is 28 years old. If no additional contributions are made, it could be worth far less: $18,100.
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