Washington, July 6 (IANS) US President Donald Trump on Monday officially launched the “Trump Accounts”, a new investment programme aimed at giving American children an early financial stake in the country’s economy, describing it as one of the most significant initiatives of his presidency.
Speaking at the White House during what organisers described as the first joint opening bell ceremony involving the New York Stock Exchange and Nasdaq, Trump said the accounts would allow children to accumulate wealth from an early age through investments linked to the stock market.
“Trump accounts are about giving every American child a stake in America’s future and getting some of the upside,” Trump said. “Nobody’s seen anything like it.”
The President said his administration had already deposited one-time seed contributions of 1,000 dollars into more than 500,000 accounts and encouraged parents to enrol their children through the programme’s website. He said millions more children would receive contributions from private donors and companies.
“People come into the world with essentially no money and end up at a very young age being very rich,” Trump said. “This is something that we’ve wanted to do… for 25 years.”
Trump credited the recently enacted “One Big Beautiful Bill” with making the programme possible and said the legislation’s supporters had decided to name the accounts after him.
“I did not ask for it,” Trump said. “They think it would sell better if your name’s on it.”
The event brought together senior administration officials, financial market leaders and philanthropists, including Michael and Susan Dell, who announced a commitment of 6.25 billion dollars for eligible American children born between 2016 and 2024.
Michael Dell said every eligible child would begin life with an investment in “America’s greatest companies” and urged other business leaders to participate.
“Our founders… pledged their fortunes to an idea. Today we’re pledging our fortune to the next generation of children,” Dell said.
Susan Dell said the accounts represented “a statement of belief in our nation’s young people”, adding that “every child deserves” greater financial opportunity.
Leaders of the New York Stock Exchange and Nasdaq also endorsed the initiative, saying the programme would broaden participation in US capital markets and help more families benefit from economic growth.
Investor Brad Gerstner, who said he had worked on the proposal for several years, called the initiative “a transformative platform” rather than simply another government programme. He said supporters hoped to raise more than 100 billion dollars for children’s accounts over the next year and eventually reach all American children.
Trump said the initiative would encourage financial literacy and entrepreneurship among young Americans.
“I think this will be one of the top” achievements of his administration, he said. “It’s going to teach children to be entrepreneurial.”
During a question-and-answer session, Trump also addressed a range of issues beyond the programme, including the Russia-Ukraine war, Iran, cryptocurrency, artificial intelligence, the FIFA Club World Cup and ongoing work at the White House, before returning to what he called the central purpose of the event.
“It’s the American dream,” he said. “It’s a big part of the American dream.”
–IANS
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