The millionaires and billionaires pledging to fund Trump accounts

Michael Dell, seen here beside President Trump, is among the wealthy individuals pledging to fund the accounts. Brendan Smialowski / AFP via Getty Images "Trump Accounts" are set to launch in July. American children born between 2025 and 2028 are eligible for $1,000 from the federal government. A handful of wealthy individuals are also planning to make contributions to the accounts. A handful of very wealthy people want to give your children free money. This July, the government will officially launch "Trump Accounts," a new investment savings account for children. Parents can contribute up to $5,000 per year to each of their kids' accounts, while employers can contribute up to $2,500 per year. For children born between 2025 and 2028, the federal government will provide a $1,000 seed contribution. But it's not just the government. Several wealthy individuals have pledged to make further philanthropic contributions to the accounts. Many of those individuals are "adopting" specific states, meaning their contributions are limited to children living in those states. The accounts can't be accessed for withdrawals until the child turns 18, at which point they can spend the money on major purchases like tuition or a down payment on a home. The goal of it all: getting the next generation invested in capitalism and building wealth. Here's who's pouring money into Trump Accounts, and which children are eligible. Michael and Susan Dell Michael and Susan Dell at the White House in December. Andrew Caballero-Reynolds / AFP via Getty Images Dell CEO Michael Dell and his wife Susan have pledged to contribute $6.25 billion to the Trump Accounts of children across the country. Specifically, the Dells are contributing $250 to 25 million children, including those who are 10 years or younger and live in a ZIP code where the median income is $150,000 or less. Recipients also must be born before January 1, 2025, meaning the Dells' contributions will go to children who aren't set to receive the $1,000 contribution from the federal government. "Together we can make possibility something that every child can count on," Michael Dell said in a December video announcing the contribution. Ray and Barbara Dalio Billionaire Ray Dalio in Riyadh, Saudi Arabia in October. Amal Alhasan/Getty Images for Fortune Media Hedge fund manager Ray Dalio is "adopting" the state of Connecticut. The Bridgewater Associates founder and his wife Barbara are planning to contribute $250 to the Trump Accounts of about 300,000 children across the state. The contributions will be initially targeted toward children under the age of 10 who live in a ZIP code where the median income is less than $150,000. "Barbara and I believe strongly in the importance of equal opportunity and believe this initiative is an important step in that direction," Dalio said in a statement in December. "I have lived the American Dream. At an early age, I was exposed to the stock market, and it changed my life." Brad Gerstner Altimeter Capital CEO Brad Gerstner at the White House in December. Chip Somodevilla/Getty Images Brad Gerstner, the CEO of Altimeter Capital, is adopting the state of Indiana. He's planning to contribute $250 to the Trump Accounts of all children under 5 years old in the Hoosier State, adding up to a figure that a spokesperson estimated to be in the "tens of millions" of dollars. Gerstner, the founder and CEO of the Invest America Foundation, is also widely credited with coming up with the idea for Trump Accounts. He told Business Insider in December that he helped coordinate the Dells' massive $6.25 billion contribution, and that his phone was "blowing up" when the news broke. Harold Hamm Continental Resources Chairman Harold Hamm at the White House in January. Brendan Smialowski / AFP via Getty Images Harold Hamm, the founder and chairman of the petroleum company Continental Resources, plans to "adopt" the state of Oklahoma, according to the Treasury Department. The details of Hamm's planned contributions have not yet been made public, and spokespeople for Continental Resources did not respond to requests for comment. Hamm, a billionaire, contributed hundreds of thousands of dollars to President Donald Trump's campaign in 2024. Nicki Minaj Nicki Minaj at a Trump accounts event in January. Brendan Smialowski / AFP via Getty Images Even Nicki Minaj says she's contributing to Trump Accounts. Minaj has indicated that the contributions will go to her fans, but it's not clear how much money she's pouring in. The New York Post reported in January that it could be "between $150,000 and $300,000," but that the number was still in flux. A representative did not respond to a request for comment. Minaj said on an episode of The Katie Miller Podcast that she became interested when she saw President Trump speaking about the accounts alongside Michael Dell. "I was just like, wow. Like, I love this idea," Minaj said. "My big thing is financial literacy," she added. "You could teach a person everything in the world, but if they don't know how to manage money, if they don't know what the financial world really entails, then they'll get it and lose it." Read the original article on Business Insider