Billionaire investor Ray Dalio has joined Michael Dell in backing the Trump administration’s proposed investment accounts for children, known as Trump Accounts, Treasury Secretary Scott Bessent said on Wednesday (December 17).
Speaking at an event promoting the initiative, Bessent said Ray Dalio would help fund the accounts for eligible children in Connecticut, as the administration works to line up private donors for every US state.
State-level funding push
Bessent said the administration is encouraging states and private philanthropists to supplement the federally backed accounts, describing the effort as a public-private partnership aimed at boosting long-term wealth creation for American families.
“Twenty other US states are considering adding funds to the Trump Accounts,” Bessent said, signalling growing interest beyond the initial federal contribution.
What are Trump Accounts?
Trump Accounts are government-backed, tax-advantaged investment accounts for US children born between 2025 and 2028. Each eligible child would receive an initial $1,000 seed deposit from the federal government, with families able to make additional voluntary contributions.
Funds would be invested in US companies, with the goal of allowing the accounts to grow over time and be accessed once the child turns 18 for purposes such as education, housing, or continued investing.
Growing list of backers
Dalio’s support adds to a growing list of high-profile backers, including Dell and other corporate and philanthropic supporters. Bessent said the administration is actively seeking commitments nationwide to ensure broad geographic participation.
The programme is positioned by the Treasury as a pro-family, long-term savings initiative, aimed at giving children an early financial foundation and narrowing wealth gaps over time.
