"Good morning. Earlier this week, I spoke to Michael Dell about his plan to put $250 in the so-called Trump Accounts (now called Invest America accounts) of 25 million American kids when the savings program launches next year. The $6.25 billion donation is more than double the total amount that the Michael and Susan Dell Foundation has dispensed in its 26-year history. As he told me in a wide-ranging interview: "When children have accounts like this, their outlook on life just changes.""
"In some ways, it changed his. "When I was about 6- or 7-years-old, I got a passbook savings account. I had maybe $6 or $7 in it. I'd go to the Savings & Loan, put in a quarter, and they'd stamp my book. I learned about compound interest and savings and, I'm like, 'This is really cool,'" he said. "That ignited an interest in me. Hopefully, these accounts will cause children to want to learn more about compound interest and the companies in the S&P 500 and investing and saving.""
"Of course, it's easier to give away billions when you're worth close to $150 billion, but Americans tend to be a generous lot. Overall, people gave $592.5 billion to U.S. charities last year, a new high that was no doubt boosted by stock market gains and a buoyant economy. It helps to have mechanisms that encourage giving, such as company matches and GivingTuesday, which the Dells chose for making their announcement."
Michael Dell plans to place $250 into Invest America accounts for 25 million American children, totaling a $6.25 billion donation that exceeds his foundation's lifetime grants. Early savings accounts can change children's outlooks and spark interest in compound interest, investing, and the S&P 500. Dell's own childhood passbook experience inspired his interest in saving and later entrepreneurship. U.S. charitable giving reached $592.5 billion last year, aided by market gains and economic strength. Mechanisms such as company matches and GivingTuesday help drive donations, and GivingTuesday was used for announcing this initiative.
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