The White House announced that Trump Accounts, a new investment program for children, raised $125 million in personal contributions within the first five days of its launch. The program, signed into law as part of President Donald Trump’s One Big Beautiful Bill Act last July 4, provides a $1,000 deposit from the U.S. Treasury into each child’s account. Families and corporations have since added their own contributions.
Immediate Action & Core Facts
$125 million was contributed by families and high-profile donors in the first five days. 6.5 million accounts have been opened, with 500,000 new accounts added in the same period. The Trump Accounts app has become the top-rated federal government app on the Apple App Store, with a 4.75-star average rating from nearly 3,500 reviews.
Deeper Dive & Context
Contributions Breakdown
- 70% of contributions were under $250, and 60% were under $100, indicating broad participation across income levels.
- High-profile donors include SpaceX President Gwynne Shotwell, who contributed SpaceX stock to children in lower-income households near her Texas home.
- Dell CEO Michael Dell and his wife Susan contributed $6.25 billion, while hedge fund manager Ray Dalio, Altimeter Capital CEO Brad Gerstner, and rapper Nicki Minaj also donated.
- Corporations like Goldman Sachs, Micron, and Bank of America have contributed to their employees’ children’s accounts.
Program Details
- The program targets children born between 2025 and 2028, with the U.S. Treasury depositing $1,000 per account.
- The Trump Accounts app has outperformed other federal tech rollouts, avoiding the glitches that plagued the 2013 Affordable Care Act website launch.
Political and Public Response
- The White House praised the program in an X post, calling it an investment in the future.
- President Trump thanked donors like Gwynne Shotwell and Michael Dell for their contributions.
- Treasury officials emphasized that the program is accessible to families of all economic backgrounds.
Technical Performance
- The app’s 4.75-star rating surpasses that of Robinhood, another popular financial app.
- Unlike past federal tech launches, the Trump Accounts app has no reported major technical issues.
Bipartisan Buzz
- The program has drawn bipartisan interest, with officials noting its broad appeal across political lines.
The White House did not respond to requests for further comment.