Treasury Secretary Scott Bessent is working to persuade wealthy Americans and major corporations to help finance the administration’s Trump Account investment program.
“The president is calling on our nation’s business leaders and philanthropic organizations to help us make America great again by securing the financial future of America’s children,” Bessent said Wednesday during a press conference on the initiative. “Given the amazing level of interest and the generous donations we have seen so far, I am confident we will see many more pouring in.”
Trump accounts would provide American children born between Jan. 1, 2025, and Dec. 31, 2028, with an initial $1,000 in a tax-deferred investment account, intended to serve as a starter fund when they turn 18. The program was a key provision of the One Big Beautiful Bill Act—now called the Working Families Tax Cut Act—signed into law by the president in July. Parents and guardians can contribute up to $5,000 annually, and employers may contribute up to $2,500, until the child reaches adulthood.
With limited long-term federal funding for Trump accounts, Bessent is pressing major corporations and wealthy donors to help bolster the program ahead of its formal launch next summer. Earlier this month, Michael and Susan Dell pledged $6.25 billion to the initiative, ensuring that children ages 10 and under born before 2025 receive up to $250 in their accounts.
Last week, hedge fund manager Ray Dalio announced a $75 million donation for Trump accounts benefiting children in his home state of Connecticut. Companies including BlackRock, Charter Communications, Visa, Mastercard, and Uber have also committed to contributing.
Bessent is not alone in pressing the private sector to contribute. Earlier this month, Sens. Cory Booker (D-N.J.) and Ted Cruz (R-Texas) sent a letter urging the CEOs of all Fortune 1000 companies to step up and donate.
“By matching contributions for employees’ families, investing in the communities where you operate, or integrating these accounts into your philanthropic strategy, you can significantly enhance the impact of this historic initiative,” they wrote in the letter.
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