Billionaires Michael and Susan Dell pledged $6.25 billion Tuesday to provide 25 million American children under 10 an incentive to claim the new investment accounts for children created as part of President Donald Trump’s tax and spending legislation.
The historic gift has little precedent, with few single charitable commitments in the past 25 years exceeding $1 billion, much less multiple billions. Announced on GivingTuesday, the Dells believe it’s the largest single private commitment made to U.S. children.
It is also unusual in that it will operate through investment accounts set up by the U.S. Department of the Treasury that will be managed by private companies. Dubbed “ Trump Accounts, ” the program has not yet launched but was passed into law on July 4 as part of the president’s signature legislation.
“We believe that if every child can see a future worth saving for, this program will build something far greater than an account. It will build hope and opportunity and prosperity for generations to come,” said Michael Dell, the founder and CEO of Dell Technologies whose estimated net worth is $148 billion, according to Forbes.
Through their gift, the Dells will deposit $250 into each qualified child’s investment account, which they said the Treasury plans to launch on July 4, 2026. Dell said they wanted to mark the 250th anniversary of U.S. independence.