#trump-accounts

#trump-accounts

Hedge fund manager Ray Dalio has joined the list of billionaires backing President Donald Trump's new plan to give $1,000 to every child born in the next three years. Dalio, the founder of Bridgewater Associates, and his wife, Barbara, will donate $250 to about 300,000 children in Connecticut who live in zip codes where the median family income is $150,000 or less, Dalio Philanthropies said in a press release.

It's well-known that Donald Trump loves to send taxpayer dollars directly to voters with packaging intended to make the bounty seem like a gift from his own self. So it's not surprising that his signature One Big Beautiful Bill Act had a provision creating something called "Trump Accounts" that would be set up for all American children born between 2025 and 2028 with a $1,000 "seed deposit" from the federal government. A nice birthday gift for these kids, right?

He claimed wealthy individuals acted to create the Giving Pledge and feared the public would "come at it with pitchforks," but there has been little progress since. While acknowledging the Giving Pledge was "well intentioned," Bessent argued Trump Accounts will be a much more "concrete" accomplishment. The new structure aims to establish a "shareholder economy" by providing a vehicle for Americans to have a stake in the economic system,