Michael Dell, the founder of Dell (DELL), and his wife, Susan, have pledged $6.25 billion to fund “Trump Accounts” for children in the U.S.
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The accounts, which were brought into law through the One Big Beautiful Bill Act, will provide children born between 2025 and 2028 with a $1,000 federal grant. The Dells’ donation will fund $250 grants for 25 million children age 10 and under, born before 2025, who live in ZIP codes with median household incomes of $150,000 or less.
How the Trump Accounts Will Work
Furthermore, the accounts will be eligible for after-tax contributions of up to $5,000 per year until the child reaches 18 years old. Afterward, the account must be converted into an individual retirement account (IRA), with withdrawals taxed at the beneficiary’s income tax rate.
“TWO GREAT PEOPLE. I LOVE DELL!!!” Trump said in a Truth Social post.
Trump Accounts will go into effect on July 4, 2026. The money in the account can only be invested in diversified funds that track a U.S. stock index, like the S&P 500 (SPX).
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