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Michael Dell, the CEO of Dell Technologies, is making a major investment in the future of American children. Dell and his wife, Susan, are contributing $6.25 billion to the newly launched “Trump Accounts,” a program created under President Donald Trump to help children build financial security.
“We think investing in children is the smartest investment we can make. This is basically directly investing in their futures with these accounts that will grow over time,” Dell said Thursday on “Fox & Friends.”
“When a child has an account like this, even with a modest sum, they’re way more likely to graduate from high school,” he added.
Under the program, the federal government will make a one-time $1,000 contribution to “Trump Accounts” for U.S. citizens born between 2025 and 2028.
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Michael Dell, CEO of Dell Technologies, and his wife, Susan, speak alongside President Donald Trump Tuesday during the announcement of a $6.25 billion donation from the Dell family to “Trump Accounts” in the Roosevelt Room of the White House. (Andrew Caballero-Reynolds/AFP via Getty Images)
With the Dells’ donation, an additional $250 will be added to each newborn account. Another $250 contribution will also go to 25 million children age 10 and under who live in ZIP codes with median incomes below $150,000.
The initiative is aimed at narrowing the wealth gap and giving young people an early stake in the American economy. Dell says these accounts can help set kids up for success and keep them in school longer.
“This is a step in the right direction that will, you know, help to close some of that wealth gap,” Dell said.
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Michael Dell participates in a featured SXSW 2024 session at the Austin Convention Center in Austin, Texas, on March 14, 2024. (Errich Petersen/SXSW Conference & Festivals via Getty Images)
He explained that his passion for early investment began when he opened a passbook savings account at age 8.
“You’d go there, and you’d give them a quarter, and they’d stamp the little book, and you could see the effect of compound interest,” Dell said.
The accounts are available for U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. Families can also add to the accounts themselves, contributing up to $5,000 per year.
President Donald Trump greets Dell Technologies CEO Michael Dell as they arrive for the Invest America Roundtable in the State Dining Room of the White House on June 9. (Win McNamee/Getty Images)
A White House statement estimated that if fully funded and left untouched, a “Trump Account” could grow to nearly $1.9 million by age 28.
“As you get tens of millions of kids now understanding how this actually works,” Dell said.
“The effect of this, we believe, over time, over 10, 20, 30 years, can be tremendous on the overall country.”
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