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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French President Emmanuel Macron is expected to use next week's NATO summit in Ankara to advance his push for greater European responsibility in security, with a bilateral meeting planned with Turkish President Recep Tayyip Erdoğan as Paris seeks closer coordination with key allies.
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Germany has requested urgent talks with China's ambassador following reports that Chinese authorities trained Russian soldiers, adding fresh strain to relations between Beijing and Europe amid the war in Ukraine.
French President Emmanuel Macron is expected to use next week's NATO summit in Ankara to advance his push for greater European responsibility in security, with a bilateral meeting planned with Turkish President Recep Tayyip Erdoğan as Paris seeks closer coordination with key allies.
Russian President Vladimir Putin has congratulated U.S. President Donald Trump on the 250th anniversary of American independence, saying Russia and the United States share a special responsibility for maintaining global security as the world's two largest nuclear powers.
China said on Saturday it had launched a coast guard patrol east of Taiwan, prompting a strong protest from Taipei, which accused Beijing of illegally expanding its authority and undermining regional stability.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 4 July, covering the latest developments you need to know.
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