Donald Trump welcomed leading figures from Wall Street to the White House on Monday to mark the rollout of a new policy aimed at giving newborn children an early financial stake in the market.
Representatives from the New York Stock Exchange and Nasdaq joined the President in the Oval Office, where they took part in a ceremonial ringing of the opening bell.
The initiative, known as “Trump Accounts,” provides each eligible child born roughly between 2025 and 2028 with a $1,000 government-funded investment account.
The accounts officially began receiving deposits on July 4.
Children will not be able to access the money until they turn 18. Even then, withdrawals will be limited to approved uses, such as buying a home or covering education costs.
Parents, relatives, friends and others will also be allowed to add money to the accounts. The funds are set to be invested in exchange-traded funds, or ETFs, giving children exposure to the broader U.S. stock market.
According to White House estimates, even without any extra contributions, each account could grow to about $5,800 by the time a child turns 18, and roughly $18,100 by age 28.
Trump’s Oval Office bell-ringing also marked a first: the New York Stock Exchange opening bell had never before been rung inside the White House.
Donald Trump rang the opening bell for the NYSE from the White House on Monday to celebrate the launch of ‘Trump Accounts,’ federally-backed investment funds for newborns
Nine children joined the Trump Account event in the Oval Office on Monday morning
The accounts ‘will help jumpstart the American Dream for these fabulous children as we celebrate America’s 250th Anniversary!’ Trump said in a social media post. ‘This massive Investment will help millions of American children and families get a strong start in life, and give them real Financial Security.’
Treasury Secretary Scott Bessent said in the Oval Office that six million Trump Accounts have already been opened.
‘Already 6 million American children have signed up, 86 percent of them with families earning less than $200,000,’ Bessent said, adding that ‘1.4 million of those accounts will receive $1,000 from the US Treasury.’
The accounts have also been funded with philanthropic donations from US titans of industry, like Michael Dell and Altimeter Capital boss Brad Gerstner – the mastermind behind the policy.
‘They’re putting up a lot of money,’ Trump said in the Oval Office while Gerstner and Dell stood behind him.
‘Think of it, children that are born without money … they can become very wealthy children at 18.’
The President noted how the US stock market has been performing well under his second term and that those invested will see great returns. ‘I think the market’s going to go through the roof.’
On the Resolute Desk sat a golden bell engraved with ‘Trump Accounts’ as the President touted the importance of the initiative. Several children were spotted in the Oval Office during the event.
The bell that Trump rang for the event was engraved with ‘Trump Accounts’
Michael Dell (L) and Brad Gerstner (R) both attended the event. The two have donated money to the Trump Account initiative. Gerstner has been credited as the architect of the plan
Several executives from the NYSE and NASDAQ attended the event.
The launch comes amid widespread concerns about the economy and affordibility – two top priorities among voters before the midterms later this year.
Inflation ticked up to a three-year high in May, according to the Federal Reserve. The increase came as gas prices spiked due to the US-Iran war.
‘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,’ the Dell founder said.
‘So we are contributing $6.25 billion to 25 million eligible Americans,’ he added, flanked by his wife, Susan Dell.
Texas Republican Senator Ted Cruz, speaking directly to the young children in the Oval Office, told them how they are now proud investors in American companies like McDonald’s and Boeing.
‘When you go to McDonald’s, you can look around and say, ‘I own this place,” Cruz remarked.
