Michael Dell to put $250 in millions of children’s accounts

Michael and Susan Dell will give 25 million children a $250 deposit in individual investment accounts, they said Tuesday, in one of the largest acts of philanthropy ever to Americans.

The $6.25 billion handout will go into investment accounts known as “Trump accounts” that were announced as part of President Donald Trump’s One Big Beautiful Bill Act this year. The government will give $1,000 to children born between Jan. 1, 2025 and Dec. 31, 2028 under the plans.

The Dells’ money will expand that to children up to 10 years old, but only those who live in a ZIP code where the median household income is less than $150,000 will be eligible.

The accounts are to be set up by the U.S. government next year, though it is yet to outline exactly how they will work, with details like how to register and where the accounts will be based yet to be announced.

“These deposits will reach the accounts of most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,” the Dells said in a statement.

“Children older than 10 may benefit, too, if funds remain available after initial sign-ups,” the Dell family said. “It is an incredibly practical and direct step to help families begin saving today.”

The couple said they “believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future.”

People in control of Trump accounts will be able to deposit up to $5,000 per year until the beneficiary child reaches age 18. It will not be possible to withdraw from the accounts until the child reaches that age. The assets in the accounts will be able to grow tax-free, but when the money is withdrawn recipients must pay taxes on their gains.

“These investment accounts are simple, secure, and structured to grow in value through market returns over time,” the Dell family said.

Michael Dell founded Dell Technologies in 1984 and made his money selling computers direct to consumers rather than to retailers. Now, the Dells have a fortune of nearly $150 billion, according to Bloomberg Billionaires.