"On Dec. 2, the Dells announced a $6.25 billion donation-more than double the amount that their foundation has given out to date-to augment the Invest America accounts, or so-called Trump accounts, that will launch next year for U.S. citizens under 18 as mandated by the One Big Beautiful Bill Act. Washington will fund a $1,000 seed deposit for babies born between 2025 and 2028. Money in the accounts will be invested in U.S. index funds and taxed upon distribution."
"I first heard about this in 2021. Brad Gerstner (Altimeter Capital CEO and architect of the plan) had been championing this idea and told me about it. I talked to Susan about it. We're like, this would be great. This would just be fantastic. This is going to be like a platform for families and communities and companies and philanthropists to contribute to these accounts for children. The more we thought about that, we thou"
Michael and Susan Dell committed $6.25 billion to augment Invest America accounts established under the One Big Beautiful Bill Act. The federal government will seed $1,000 for babies born between 2025 and 2028, with account funds invested in U.S. index funds and taxed on distribution. The Dell donation will add $250 to accounts for 25 million children ages 10 and under who are ineligible for federal grants and live in zip codes with median household incomes of $150,000 or less, potentially encouraging families to open accounts. Michael Dell first learned of the plan in 2021 from Brad Gerstner.
Read at Fortune
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