Dell Pledges $6.25B for 'Trump Accounts' for 25M Kids — Largest Gift to US Children

Billionaires Michael and Susan Dell have announced one of the largest single private commitments in U.S. history, pledging $6.25 billion to seed new government investment accounts for 25 million American children. Dubbed "Trump Accounts" by the administration, the program was established under the President's recent tax and spending legislation.

#DellDonation #TrumpAccounts #MichaelDell #SusanDell #$6BillionGift #Philanthropy #InvestAmerica #GenerationalWealth #ChildInvestment #StockMarket

Transcript

00:00We're thrilled to be joined by one of the most successful business leaders and people

00:06anywhere in the country, whether it's technology, no matter what business you're talking about,

00:12there's really nobody quite like him. He's chairman and CEO of Dell Technologies.

00:18Make great everything, great computers, great everything. Michael Dell, very much of a legend,

00:24who's here with his really exciting announcement. It's so amazing. And much more importantly,

00:32he's here with his wonderful wife, Susan, and they have a special relationship. I think I can say

00:38that, really. It's very nice. I don't see too much of it. I see the opposite, but I don't see too much.

00:44They have two special people. And I've seen that. I've known that for a long time, and I think it's

00:50a tremendous thing. Also, the CEO of Altamir Capital, Brad Gerstner. Where are you, Brad? Brad?

01:00Brad Gerstner is a terrific fellow who's very much involved in this incredible thing that we're doing

01:08today, along with the Speaker of the House, Mike Johnson, Treasury Secretary, Scott Besson,

01:13Chairman of the Senate Committee on Commerce and Science and Transportation, Ted Cruz,

01:18House Ways and Means Committee Chairman Jason Smith, Vice Chairman of the House Republican

01:24Conference, Blake Moore, as well as the Chief Design Officer of the United States Airbnb co-founder,

01:32Joe Gebbia. I want to thank you all for being here. It's a great group. And I guess a potential Fed

01:41chair is here, too. I don't know. Are we allowed to say that? Potential. He's a respected person,

01:48that I can tell you. Thank you, Kevin.

01:51Today is Giving Tuesday. I don't know if anybody's heard that one before,

01:56but it is indeed Giving Tuesday, one of the biggest days of the year for philanthropy and charitable

02:03giving. And this afternoon, Michael and Susan Dell are committing to one of the largest private

02:09donations in American history, which will directly benefit the next generation of American children

02:15through the new Trump Accounts program that we created in our one big, beautiful bill.

02:22Michael and Susan came to see me, along with Brad, and they said, you know, this is an idea. And I said,

02:28I think, you know, it's just so good and so unique. But that's why he's been so successful,

02:36and they've been so successful in life and in business, because they're unique.

02:41Trump Accounts will be the first, I guess you could say, real trust funds for every American child,

02:48allowing family members, employers, corporations, generous donors to contribute money that will be invested

02:54and grow over the course of a child's life to be used for their benefit after they turn 18.

03:02So in other words, these are children that are going to, an investment's going to be made,

03:06that investment's going to continue to grow, we hope, right? We hope. And, but it will. And they'll be,

03:15they'll feel like, they'll feel like Michael Dell someday. But at 18, they'll have a lot of money,

03:21a lot more money than they would have had, and potentially a lot of money. But these accounts

03:26will track the overall stock market, and will be 100% private property, controlled by the child's

03:31guardians. In honor of America's 250th anniversary, the Dells are announcing today that they are

03:38giving 25 million American children $250 each to save and to invest in their personal Trump account.

03:47Now that's the equivalent of $6.25 billion. In other words, to put it succinctly, Michael and Sousa

03:57are giving $6,250,000,000 in total, and as a total contribution. That's big stuff. I don't care who you are.

04:10That's big. Come here. Give me a hand. Let me have a little of that luck rub off.

04:18That's fantastic, Susan. These gifts will be available to the first 25 million children aged 10

04:25and under the sign, the zip codes, where their median income is $150,000 or less.

04:32So they're giving them to children that won't be born particularly rich, and they're going to be

04:39hopefully very rich someday. This will give millions of dollars, millions of children,

04:46middle-class families a stake in American prosperity, a benefit from the rising stock market,

04:52and a better shot at the American dream. It really gives them a shot at the American dream.

04:57Michael and Susan, I want to thank you for this extraordinary act of kindness and patriotism

05:01and charity. This is truly one of the most generous acts in the history of our country.

05:07I mean, you just don't hear about things like that, and we've got to let people know he doesn't

05:12want and she doesn't care about that, but I do. I think when somebody does that, you've got to let

05:19them know about it. As I mentioned, this gift is being made possible by the largest tax cuts in

05:24American history, which our Republican majorities passed earlier this year, and the Speaker worked

05:30so hard, and John Thune, and Jason, and all of them, every one of them. Ted Cruz is with us. He

05:36worked so hard getting that done. That was the biggest, most consequential bill they say ever passed.

05:42And, you know, if they remember, Michael, we were, they thought we had to put that in 12 to 14 bills.

05:49I said, I don't know if we can hold it that long with the Democrats. And we said,

05:53let's try doing it once. So we did, and people were surprised, but we got it done.

05:59So I congratulate you guys. Amazing job. Under that bill, the federal government will also

06:03automatically be making a one-time seed contribution of $1,000 into the tax-deferred Trump

06:10accounts for every newborn U.S. citizen, fulfilling a promise I made in the 2024 campaign. Trump accounts

06:19should grow to be worth many thousands of dollars by the time the child is 18, and even more by the time

06:24they are 20 or even 30 years old. We think it's going to be something really unique and really

06:31special. We hope many others will follow Michael and Susan's example and make their own contributions.

06:37I'll be doing it too, to the next generation, including businesses, churches, philanthropists,

06:43family members, and parents themselves. I think we're going to have a lot of people, Susan. I think

06:48a lot of people are going to be contributing. A lot of people are watching us right now.

06:53They might not be $6 billion plus, but there'll be a lot. There aren't too many people that are in

06:59the $6 billion range, but there'll be a lot. A lot of friends of mine have already told me they're

07:04going to contribute a lot of money, and a lot of them are going to leave a lot of money

07:07in their wills, so that's very important. And as you watch us today, I hope you'll be

07:12doing that. Contributions to Trump accounts will also be a great benefit for employers

07:17to offer their workers, which they'll be able to do tax-free. It's tax-free. We expect hundreds

07:23of major companies to announce plans to contribute to these accounts in the coming months, and we've

07:29had tremendous interest in that regard. So the Trump accounts will be available starting

07:34on July 4th next year. And Michael and Susan, to you again, it's an amazing act of just incredible

07:42everything. I mean, the life you've led to be able to do this, even to be able to even a lot

07:49of people have a good heart, but they can't give $6 billion, $250 million. And Michael probably,

07:56knowing you, it's not the last of it either. It's not the last. But on behalf of the United

08:01States of America, I want to thank you both, and I want to thank all three. But I want to

08:06thank you both, because you've been friends of mine. And it's a spectacular couple. This

08:10is really an amazing, an amazing people.

08:14So, thank you.

Dell Pledges $6.25B for 'Trump Accounts' for 25M Kids — Largest Gift to US Children | APT

Category

Transcript

Be the first to comment

Recommended