President Donald Trump is set to make a major announcement Tuesday about the creation of his new savings initiative, the so-called “Trump accounts.” This massive program is aimed at helping American children build financial assets from an early age, promoting upward mobility and self-reliance.
Trump will be joined at the White House by Michael Dell, the founder and CEO of Dell Technologies. Dell is due to discuss the enormous $6.25 billion donation he and his wife, Susan Dell, have made to the accounts.
White House Press Secretary Karoline Leavitt confirmed the timing, saying, “The president will make an announcement in the Oval Office on his initiative to create Trump accounts to give the next generation of Americans a jump start on savings.” She called it a very exciting announcement for parents across the country.
The Trump accounts were created under this year’s One Big Beautiful Bill Act and can be opened for any child under 18 with a Social Security number. The federal government will seed every account with a $1,000 grant for children born between 2025 and 2028.
Michael Dell’s $6.25 billion commitment is designed to cover the children who are not eligible for the federal grant. The Dells will contribute $250 each to about 25 million children under the age of 10.
The accounts are designed to invest only in low-cost, diversified U.S. stock index funds. This structure, similar to a traditional Individual Retirement Account (IRA), gives children a real stake in American economic growth and free-market principles.
Michael Dell explained the conservative vision behind the accounts. He said, “We know that when children have accounts like this, they’re much more likely to graduate from high school, from college, buy a home, start a business and less likely to be incarcerated.”
White House spokesman Kush Desai praised Dell’s action. Desai said, “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.”
Desai called the accounts “a revolutionary investment by the federal government into the next generation of American children.” Trump is due to make the full announcement from the Roosevelt Room at 2 p.m. ET.