Michael and Susan Dell are giving $6.25 billion to help children invest in their future. The money will be used to fund the Invest America Initiative, better known as "Trump Accounts." Under the program, the government starts investment accounts for kids with $1,000. The Dells' gift will fund accounts for children who aren't eligible for the government money.

Washington

Michael and Susan Dell have announced a $6.25 billion donation to the Trump Accounts Program for Children, officially called the Invest America Initiative. This program, created by venture capitalist Brad Gerstner, provides investment accounts to children to help address wealth inequality and promote financial literacy.

The Dell donation will expand the program to include children under age 10, offering $250 each, in addition to the existing $1,000 accounts for those born between 2025 and 2028. The funds are intended for long-term investment in low-cost index funds, with the goal of supporting future education, home purchases, or business startups.

Dell helps fund Trump accounts with $6.25 billion gift

Michael and Susan Dell are donating $6.25 billion to fund the Trump Accounts Program for Children. The president praised the move, writing on True Social, quote, two great people, I love Dell. Bloomberg senior editor Mike Shepard joins us now in Washington. Shep, this is just an insane amount of money to be donating. It is an insane amount of money to donate. And the idea is to give an additional group of children access to this program, known informally as the Trump Accounts, but formally as the Invest America Initiative. And it actually predates Donald Trump's time in office. It's the brainchild of Silicon Valley venture capitalist Brad Gerstner, who really wanted to come up with a way of closing the wealth gap in the country and increasing financial literacy. And basically, the government for children born between 2025 and 2028 will cede $1,000 in poor investment accounts that parents can open on their children's behalf and then continue making contributions until they reach the age of 18. And this is something, naturally, that the president embraced. And he even featured it at an event in June that Michael Dell attended together with Brad Gerstner, where they hailed this program. And I guess that's only for the Trump Accounts. The $1,000 is only for kids, as you say, born 25, 26, 27, 28. This donation is going to be to kids under the age of 10 or maybe up to 10, right? So even existing children will get hold of this $250. What do you have to do to get into this program? I mean, you don't really have to go through the Invest America platform to try to access this. But the idea is really basically the same. And this is what Michael Dell is hoping to do, is to reach beyond the smaller cohort of children born between those years and try to expand, possibly, the availability of access to these accounts. And it's important to note that the idea is to put this money into low-cost index funds that have some measure of security and that children would be able to eventually, when they reach adulthood, would be able to use that money for education, to buy their first home, or even cover some startup expenses. All right, Mike, great having you on the program. What a feel-good story. And also, Dell stock, you can see, moving up 4% in today's trade. Bloomberg's Mike Shepard there in Washington, DC.

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Moscow

Ukraine Invasion

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Breakdown