A couple of months after Michael Dell, the founder of Dell Technologies, and his wife, Susan, pledged $6.25 billion to children aged less than 10 in the US as part of President Donald Trump's tax and spending legislation, the couple, on Thursday (local time), provided a breakdown of the number of children to benefit across each state.
"Susan and I are proud to anchor Invest America Trump Accounts with $6.25B to jumpstart investment accounts for the next generation. It’s time to give every child a stake in the American Dream," the Dell Technologies founder said.
While announcing their pledge in December, the Dells had said they would contribute $250 each to 25 million Trump Accounts for children living in ZIP codes with a median income of $150,000 or less.
"Combined with the $1,000 federal seed for newborns, thousands of great companies, and many other individuals, we will ensure every child has a head start on building wealth," Michael Dell said.
Trump also shared the Dell founder's announcement on Truth Social.
How many accounts are being seeded in each state?
Michael Dell provided a detailed breakdown of the number of Trump Accounts that will be seeded across 50 US states, with approximate figures for each state.
Children living in California, Texas, and Florida are set to benefit the most, with 2.9 million, 2.6 million, and 1.4 million accounts, respectively, each seeded with $250.
Here's the full list:
Alabama - 382,000
District of Columbia - 41,000
What are Trump Accounts?
Created under the One Big Beautiful Bill, Trump Accounts are aimed at helping children under 18 to invest and create a financially secure future.
American children born after 31 December 2024 and before 1 January 2029 for whom a Trump Account is created will receive $1,000 from the US Department of Treasury, which must be invested in an index fund.
In addition, parents can contribute up to an additional $5,000 per year, in total, a limit that includes any annual employer contributions (which are capped at $2,500).
According to official estimates, at the age of 18, Americans who have had a Trump account will have $6,000 with zero contributions per year, $19,000 with $250 per year, and $271,000 with the maximum contribution of $5,000 per year.
