WASHINGTON—President Donald Trump rang a specially designed bell to simultaneously open the New York Stock Exchange and NASDAQ during an Oval Office ceremony on July 6 to launch accounts for children across the nation.
“After a truly historic weekend celebrating the 250th anniversary of America, today we’re thrilled to officially launch the Trump accounts,” the president said.
“Children can, at the age of 18 and after, become very wealthy people. Come into the world with essentially no money, and end up at a pretty young age being very rich, and that’s something that we wanted to do.”
Treasury Secretary Scott Bessent opened the ceremony and encouraged parents to take advantage of the newly launched investment opportunity to benefit their children.
Family, friends, and employers can contribute up to $5,000 annually to the tax-advantaged accounts.
“The American dream belongs to every child, and today we are equipping the next generation with the right to claim their rightful share of it,” Bessent said.
“This will be one of the president’s most enduring legacies, and the great bounty of this will go for generations to come.”
Approximately 30 percent of Americans are without stock market investments, a number that will shrink over time thanks to the new accounts, he said, noting that 6 million children have already signed up.
Parents can visit TrumpAccounts.gov to learn more and register their children, and investment tracking is available in a newly launched app.
“So today, with the ringing of the opening bell for the stock market, those accounts will now begin to grow right along with our booming economy,” Trump said, noting that $800 million of new investments will benefit children this week.
“And I really believe we’re going to have the biggest boom of all right now.”
He said the new accounts “are about giving every American child a stake in America’s future and getting some of the upside.”
“We’re giving this money to children, so they can have a good life very early on,” he said.
Michael and Susan Dell donated $6.25 billion to seed investments for 25 million Americans born between 2016 and 2024.
“You know, 42 years ago I started a company in my dorm room with $1,000 and today every newborn American child will start their life with $1,000 invested in America’s greatest companies, compounding for the future,” Dell said.
“But Susan and I didn’t want the children that were born just before to be completely left out.”
Deposits were made for approximately 1.4 million children moments after the bell rang, with recipients meant to benefit from advanced financial literacy, in addition to the monetary gains.
The funds could help future students attend college debt-free, or the accounts could grow substantially over time if recipients decide to continue investing.
“I would recommend they probably don’t take it out, but they can have a lot of money, especially if the market continues,” Trump said.
The occasion marked two historic moments, with the competing stock exchanges opened jointly in the Oval Office for the first time.
