Dell Technologies CEO Michael Dell and his wife Susan Dell announced on Tuesday that they will donate $6.25 billion to the investment accounts of 25 million U.S. children aged 10 and under.
The funds will be directed to Trump-branded investment accounts, authorised by Congress earlier this year, aimed at encouraging families to save for retirement. Each child will receive $250, and babies born between 2026 and 2028 will also be eligible for a $1,000 government contribution.
The Dells said the donation targets children born before 1 January 2025 who live in areas with a median income below $150,000. They expect the gift to reach almost 80% of children in this age group, making it one of the largest private donations directly benefiting Americans.
Michael Dell highlighted the impact of a small financial head start, “We’ve seen what happens when a child gets even a small financial headstart — their world expands,” he said in a video announcement.
He also encouraged other philanthropists and employers to make similar contributions.
Trump-branded accounts must be invested in an index fund reflecting the wider stock market. Parents can contribute up to $5,000 in after-tax funds, with employers, charitable organisations, and others also able to donate. The account converts into a retirement account when the child turns 18, growing tax-free, although withdrawals before age 59½ may be subject to taxes and penalties.
The White House Council of Economic Advisers estimates that a $1,000 initial deposit could grow to more than $5,800 in 18 years at a 10.3% rate of return. While some critics argue that the accounts primarily benefit wealthier families and add complexity to the U.S. savings system, supporters hail the scheme as a major step to expand financial literacy and security for children.
President Donald Trump praised the initiative on social media, calling the Dells “two great people.”
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Uzbekistan has unveiled a series of major economic and regional initiatives as more than 4,000 delegates from over 100 countries gather in Samarkand for the 59th Annual Meeting of the Asian Development Bank (ADB), held under the theme “Crossroads of Progress.”
European allies are stepping up efforts to meet military commitments following criticism from U.S. President Donald Trump, according to NATO Secretary General Mark Rutte.
Minval Politika has released a third set of footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing the use of artificial intelligence in a project linked to Armenia and ‘Nagorno-Karabakh’.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Iran warned U.S. forces on Monday not to enter the Strait of Hormuz after President Donald Trump said the United States would "guide out" ships stranded in the Gulf by the U.S.-Israeli war on Iran.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
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Australia and Japan agreed on Monday to deepen cooperation on energy and critical minerals, as Japan’s Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese during a three-day visit.
Australia began public hearings on Monday in an inquiry into the Bondi Beach mass shooting in December, with Jewish Australians giving evidence about their experiences of rising domestic antisemitism.
Armenia is host to the 8th meeting of the European Political Community which opened in Yerevan on Monday (4 May). Prime Minister Nikol Pashinyan welcomed European Union leaders and heads of international organisations, including NATO Secretary General Mark Rutte.
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