Summary
Tech billionaire Michael Dell and his wife, Susan, plan to donate $250 to 250 million children in the U.S. to encourage savings for retirement through Trump-branded investment accounts. These accounts were authorized by Congress as part of a tax and spending bill, and this gift is aimed at children aged 10 and under, provided they live in areas with a median income below $150,000. The initiative is one of the largest private donations to directly benefit Americans.
Key Facts
- Michael and Susan Dell will donate $250 each to 250 million children across the U.S.
- The donation aims to support Trump-branded investment accounts for retirement savings.
- Babies born between 2026 and 2028 can receive $1,000 from the government.
- The donation targets children aged 10 and under, born before January 1, 2025, living in areas with a median income below $150,000.
- President Trump praised the Dells' donation on social media.
- The donation is one of the largest private contributions directly benefiting Americans.
- Parents can put up to $5,000 into these accounts, with future adjustments for inflation.
- The accounts grow tax-free, with access available at age 18, and converting into retirement accounts.
