Advisor to Treasury Secretary Joe Lavorgna discusses President Trumps Trump accounts for children, dealing with insolvency and more about making Money.
Secretary of the Treasury Scott Bessent on Wednesday announced new information about the creation of so-called Trump accounts created under the One Big Beautiful Bill Act and launched a website for this program.
Bessent spoke at the Department of Finance and said about the release of investment accounts, “An entire generation of Americans will learn in a very life-changing way how small contributions can be the wealth that is produced, and this is all because of President Trump.”
Trump account will be awarded to every American child born between January 1, 2025, and December 31, 2028, and is credited to $1,000 invested in the index fund. The accounts are in the child’s name and their parents are guardians until they turn 18. Although no contributions are required, up to $5,000 can be deposited into the accounts annually.
“Trump’s accounts are the president’s gift to the American people. They represent perhaps the most tragic policy development of modern times,” Bessent said. “They are shaped by a very simple idea: every American is a shareholder. If every American owns a share of the most powerful economy in the world, every American will benefit from the growth of our nation.”
‘TRUMP ACCOUNTS,’ EXPLAINED: WHO IS ELIGIBLE, HOW THEY WORK AND WHEN TO FILL
Treasury Secretary Scott Besent revealed more details about Trump’s accounts as the administration unveiled the website. (Photos by Alex Wong / Getty Images)
“Every American will share in the productivity gains brought about by AI, robotics, and other world-changing technologies,” he added. “And every American will be invested in the free market system and most importantly, its continued success.”
Trump’s accounts will be officially launched on July 4, 2026. Parents can register their children by making an election when they file their tax returns.
“To claim this investment, most families just need to tick a box Form 4547the most aptly named tax bill ever,” Bessent said of Trump serving as the 45th and 47th president of the US.
WEALTHY AMERICAN’S ARE ‘FILLING OUR FORMS’ TO HELP WITH TRUMP’S ACCOUNTS, HASSETT SAYS.
Trump’s accounts were included in the One Big Beautiful Bill Act, which the president signed into law on July 4, 2025. (Tom Brenner of The Washington Post via Getty Images/Getty Images)
Once the program goes live, the financial institution will receive the funds from the child’s account and use them. From then, until $5,000 can be donated to the account annually, although no additional funds are required.
“The compound growth from the Treasury’s initial seed funding alone represents making young Americans rich. The IS&P has grown at a rate of 10.5% each year, on average, since the 1950s. Assuming that growth rate continues, a single deposit of $1,000 in the Trump account at birth will grow to more than $600,000 a year,” said Bessent.
Parents can also create Trump accounts for any child under 18, not just those born between 2025 and 2028.
MICHAEL AND SUSAN DELL DONATE $6.25B TO FUND ‘TRUMP ACCOUNT’
Michael and Susan Dell donated more than $6 billion to help fund Trump accounts for children under 10 years old. (Andrew Caballero-Reynolds/AFP/Getty Images/Getty Images)
Bessent noted that Susan and Michael Dell donated $6.25 billion to help fund Trump’s 25 million children under the age of 10.
“To put this number in perspective, Dell is making the largest private commitment to US children in our nation’s history. Their donation provides an additional $250 in funding for Trump’s children’s accounts across the country,” he said.
The treasury secretary said Dell’s donation spurred a race among philanthropists to provide seed money to Trump’s accounts and that investor Ray Dalio joined the “50 State Challenge” in that effort.
“We invite all philanthropists in every state across the country to join us in building productive wealth for America’s children through Trump accounts. Ray represents Connecticut in the 50 State Challenge. Today, he will announce an open donation to increase funding for Trump accounts for children across Connecticut,” said Bessent.
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“Ray has taken the first step, but we welcome other sponsors and foundations in Connecticut and across the country to join him in the 50-state challenge,” he added.
More information about Trump’s accounts can be found at trumpaccounts.gov.
