Wealthy donors add billions to Trump Accounts fund
President Donald Trump hosted leaders of the New York Stock Exchange and Nasdaq at the Oval Office on Monday for a ceremony marking the first trading day of the Trump Accounts program. The event, in which Trump rang the opening bell remotely, was the first time the two exchanges jointly opened and the first time the bell was rung from the White House.
“Those accounts will begin to grow along with our booming economy,” Trump said. “We’re giving this money to children so they can have a good life.”
The Trump Accounts program, established by Congress in the One Big Beautiful Bill Act, provides $1,000 from the federal government for children born between January 2025 and December 2028. Parents, friends, and employers may deposit up to $5,000 per year into the accounts, which default to a diversified index fund. Parents and guardians control the funds until the child turns 18, at which point the account holder gains control and can use the savings for college, buying a home, or starting a business. Families can sign up for an account through the IRS.
Though the accounts carry Trump’s personal branding, the concept of providing children — particularly those born into economic hardship — with a long-term investment vehicle predates the presidency and has drawn bipartisan support in Congress.
The Nasdaq composite index closed at 25,832.67 on Monday.
Trump said he wanted to keep the ceremonial bell that exchange officials brought to the Oval Office and display it in the new White House ballroom when construction is complete.
Wealthy donors have directed large charitable contributions into the accounts. Michael Dell, founder of Dell Technologies, and his wife Susan contributed $6.25 billion to provide an extra $250 for 25 million children under age 10 living in low-income areas. “We’re going to get him that money back one way or another,” Trump said, encouraging people to buy Dell computers.
Hedge fund manager Ray Dalio and his wife Barbara donated to add $250 for about 300,000 children in lower-income areas of Connecticut. Gwynne Shotwell, president and CEO of SpaceX, announced a $350 million contribution Monday morning, specifying that her gift will target children in lower-income areas with “a bit more emphasis for those that live near our central Texas home.”
“We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars,” Shotwell wrote on X.
“They can have a lot of money,” Trump said of the accounts. “We should have acted faster. It’s too bad.”