The Michael & Susan Dell Foundation is donating $6.25 billion to fund accounts for millions of American kids. Michael Dell and Susan Dell joined "CBS News 24/7 Mornings" to announce their initiative.

Michael and Susan Dell have announced a donation exceeding $6 billion through their foundation to establish Invest America, a new national program designed to provide savings accounts for children across the United States. The initiative, introduced as part of recent federal legislation, will offer every child aged 18 and under an account, with special contributions for those aged 10 and under and for newborns in coming years.

The Dell Foundation's gift will provide $250 to 25 million children aged 10 and under, while the government will contribute $1,000 to accounts for newborns from 2025 to 2028. Parents will be able to claim these accounts starting July 4, 2026, through a government website, with further information available at investamerica.org.

Michael and Susan Dell announce massive donation for American kids

It is Giving Tuesday and we've got an exclusive announcement that you heard first right here on CBS News. Millions of U.S. children will be able to get a head start on money for their future thanks to a huge donation. The Michael and Susan Dell Foundation is donating more than $6 billion to help children through a new national program called Invest America. The initiative was introduced in President Trump's big, beautiful bill. So joining me live in studio right now are Michael and Susan Dell. Welcome. It's good to have you both. Yes. This is an incredible investment that you're making in America's children. Can you just give our viewers a sense of what inspired you both to do this? Sure. Well, look, we believe the smartest investment we can make is the one in children. And we know that when a child has an account like this, even with a modest sum, it really improves their outlook on life. And they're more likely to graduate from high school and college and buy a home, start a business, start a family, become productive members of society. And so this Invest America Act that was passed is really a platform for families and friends and companies and philanthropists to contribute to these accounts and build a, you know, build hope and opportunities and possibilities for the next generation. So, Susan, take me inside the Dell home when you were both discussing what you wanted to do to help America's children. What kind of ideas were you brainstorming before you landed on this? Well, when this idea actually came up, we were so excited because Michael and I for over 26 years, we've been helping children and families living in urban poverty through our foundation. And basically what we do is we try to build pathways for change throughout the world. And we do this through expanding opportunities such as, you know, jobs and livelihoods, education, financial inclusion and health, you know, in areas across the U.S., India, South Africa and Israel. And, you know, at any given time, we're supporting programs that are, you know, I would say at least 800 active programs in these regions. Yeah. Incredible. So when we heard about this, for us, this was a natural fit because this is in a very large way going to reach a lot of children and help them have a start at a really bright future. And this is a dream for us. So we're thrilled to be doing this. That's so fantastic. So, Michael, break it down for us. Who qualifies for this? Well, every child in America that is, you know, 18 and under will have an Invest America account. And so, you know, on July 4th, 2026, their parents will need to go to a government website and claim the account. And, of course, under the government's program, newborns born in 2025 and 2026 and also 27, 28, and I think it'll go on beyond that, will get $1,000 contribution from the government in their account. What we're doing with this gift is we're going to provide $250 to 25 million kids that are 10 and under. And all you have to do is go and set up the account. And it's really that simple. For now, you can go to investamerica.org, and it kind of explains the whole program. And, look, I mean, when I was a little kid, I was about 8 years old, I got a passbook savings account. I know this story so well because it's part of the history of your legendary, like, rise to where you are today. Well, and, you know, I had maybe $8 or $10 in my account. You know, you put a quarter in. And, you know, back then, they would, like, stamp in your... It was a little passbook, right? And you'd see, you know, how much money you had. And I was fascinated by compound interest. And I sort of learned about that. And that was a spark in my life that probably led me to this moment, actually. And so, you know, if we can provide that kind of start and hope for so many, you know, millions of American children, you know, that just brings us incredible joy. And we're super excited about this. I've spoken with a number of other philanthropists, and we think that we're confident that there'll be other large gifts that get announced. That is very cool. I think this is so wonderful. I'm so happy that you allowed us to break the news this morning on CBS Mornings. It is such a consequential investment in America's children. Congratulations, and thank you. Really very cool. Thank you very much for being here with us this morning. It's good to see you. Thank you for having us.

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