Source: Fortune
Summary
President Donald Trump rang the opening bell of the stock market from the Oval Office, marking the launch of Trump Accounts, a children’s investment program. Over 6 million children have signed up, with 1.4 million eligible for a $1,000 federal seed deposit. The program aims to help children build wealth, with families able to contribute their own money and potentially accumulate up to $270,000 by age 18. The Treasury Department is working to reach families who fall outside the federal government’s pilot program, including through partnerships and outreach.
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The numbers tell one story. Trump Accounts have attracted over 6 million sign-ups, with 1.4 million eligible for the $1,000 federal seed deposit. The program’s goal is to help children build wealth, with a potential accumulation of up to $270,000 by age 18. The Treasury Department is working to reach families who fall outside the pilot program, including through partnerships with companies like Dell Technologies. The Oval Office ceremony drew big names, including Michael and Susan Dell, and Trump used the moment to plug Dell computers, leading to a 7% jump in the company’s shares.
The strategy enters a familiar phase, as the administration works to expand the program’s reach and encourage employer matches.
Author: Evan Null
