President Donald Trump is making headlines with his ambitious promise to create a new wave of affluent individuals through his initiative known as “Trump accounts.” These accounts are poised to offer children born between January 1, 2025, and December 31, 2028, a unique financial opportunity.

The plan involves a tax-advantaged investment starting with a $1,000 contribution provided by the Department of Treasury at birth. Families can then add up to $5,000 annually to these accounts, potentially paving the way for substantial financial growth.

White House Press Secretary Karoline Leavitt highlighted the potential of these accounts during a recent event, stating, “If families make the maximum contributions each year, the value could grow to nearly $1.1 million by the time the child reaches 28.”

According to statistics from the Bureau of Labor Statistics and leading financial institutions, between 45 to 55 percent of American households are currently in a position to make such annual investments of $5,000.

Leavitt, who herself earns an annual salary of $195,200, expressed her intention to enroll her soon-to-be-born daughter in the program, signaling her belief in its potential benefits.

Leavitt, who carries an annual salary of $195,200, said she would be signing up her daughter – due to be born in May – for a Trump account.  

According to the Council of Economic Advisors, under a scenario of average stock market returns for a baby born in 2026, and with maximum contributions, the balance of the Trump accounts for a child turning 18 could be as high as $300,000 and as high as $1.1 million by age 28. 

Without any contributions, a child with a Trump account can expect to have $18,000 when they turn 28. 

President Donald Trump delivers remarks on ‘Trump Accounts’ at the Andrew W. Mellon Auditorium in Washington, DC, on January 28, 2026

‘Over the next 15 years, we’re going to put $3 to $4 trillion of wealth into the hands of young Americans,’ Trump said at the event

Rapper Nicki Minaj speaks with Treasury Secretary Scott Bessent 

The venture is backed by scores of private companies and business leaders, including Michael and Susan Dell, Broadcom, JP Morgan Chase, Bank of America, SoFi, Charter Communications, BNY, BlackRock, Robinhood, Charles Schwab and more.

‘Over the next 15 years, we’re going to put $3 to $4 trillion of wealth into the hands of young Americans,’ Trump said at the event. 

‘Under this program, the US government will automatically create a tax-free investment account for every newborn American … and fund those personal accounts with a seed contribution of $1,000, which will compound and grow over the course of their lives.’

While the administration touts the accounts as a universal ladder to the American Dream, critics argue the $5,000 annual contribution cap effectively transforms a public benefit into a private tax shelter that will exponentially widen the wealth gap between affluent families and those living paycheck-to-paycheck.

In attendance were several stars, namely rapper Nicki Minaj, who Trump pulled up on stage for brief remarks and Kevin O’Leary, the host of SharkTank. 

The program was supported early on by investor Brad Gerstner, who has touted the accounts as a way to lower the wealth gap in the US. 

Parents can enroll in the program, which officially launches on July 4, 2026, using an online portal, the president said. 

‘Decades from now, I believe the Trump accounts will be remembered as one of the most transformative policy innovations of all time,’ Trump remarked. 

The president’s pitch comes as his administration has struggled with messaging on affordability and inflation. 

The latest Daily Mail/JR Partners poll found that a majority, 53 percent, of Americans disapprove of how the administration is handling inflation. Just 33 percent approved. 

Further, 51 percent disapprove of the state of the economy, while just 36 percent approve.