Michael Dell to unveil $6 billion gift to ‘Trump accounts’ at White House today

President Trump will be joined by Dell Technologies (DELL) founder Michael Dell on Tuesday afternoon at the White House to unveil an approximately $6.25 billion gift from the businessman to supplement new savings accounts for young children passed into law earlier this year.

Dell’s donation translates to $250 in starter money for about 25 million “Trump accounts” for families in low- and middle-income areas. The private money will be in addition to $1,000 in federal dollars authorized in the One Big Beautiful Bill Act for newborn children as part of an overall program set to formally launch next year.

The announcement is set for 2 p.m. ET in the Roosevelt Room of the White House.

Dell has long been a champion of the program. At an event earlier this year, Trump even credited the businessman with bringing the idea for these accounts to him.

“The One Big Beautiful Bill’s Trump Accounts are a revolutionary investment by the federal government into the next generation of American children,” White House spokesperson Kush Desai said in a statement. “Michael and Susan Dell’s $6 billion investment into America’s children is the first of many announcements to come for America’s children.”

The law was enacted last July, with the accounts expected to be fully operational next year.

The federal dollars set aside by Congress will help start the accounts for newborn children. That money can then be supplemented with annual contributions of up to $5,000 from the child’s parents and other sources, coming from after-tax dollars.

Desai added in his statement that the program was “President Trump’s call to action for American businesses and philanthropists to do their part, too.”

Learn more about high-yield savings accounts, money market accounts, and CD accounts.

Dell’s contribution is reportedly set to expand the program beyond children born from 2025 through 2028, making a $250 contribution available for children age 10 and younger who were born outside that window, with some limits on family income.

The massive gift could increase the appeal of these accounts after financial experts have raised questions about their ultimate value, noting that the contributions come from after-tax dollars and that eventual withdrawals will also be taxable after the child turns 18.

Dell is the 11th-richest person in the world, according to the Bloomberg Billionaires Index, with $148 billion. He and his wife have long given money to family-focused causes. He appeared at the White House in June to tout the accounts, calling them “a simple yet powerful way to transform lives.”