Donald Trump rang the New York Stock Exchange bell from the Oval Office on Monday, a first for the exchange, to celebrate the launch of Trump accounts, a federal program that seeds investment portfolios for American children with $1,000 at birth.
The president hosted executives from the NYSE and Nasdaq at the White House, hosting the first joint opening bell ceremony ever held at the residence. "Those accounts will begin to grow along with our booming economy," Trump said during remarks. "We're giving this money to children so they can have a good life."
The program, established through Congress via the One Big Beautiful Bill Act, allows parents, relatives, and employers to deposit additional funds into the accounts, capped at $5,000 annually. Children gain control at 18 and can use the money for college, homeownership, or starting a business. The accounts are available to children born between January 2025 through December 2028.
Trump sought to downplay his role in the naming, saying he didn't request it. The initiative draws on a decades-old bipartisan concept of giving disadvantaged children a financial head start, though its current branding carries the president's name.
Major donors have committed substantial sums. Michael Dell and his wife Susan pledged $6.25 billion to provide an additional $250 to 25 million children under 10 in low-income households. Hedge fund manager Ray Dalio and his wife Barbara donated to give 300,000 Connecticut children in lower-income areas a similar boost.
SpaceX President and CEO Gwynne Shotwell announced a $350 million contribution Monday morning, targeting children in lower-income areas with additional focus on communities near SpaceX's central Texas operations. "We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars," she wrote on social media.
Trump expressed regret that the program didn't launch sooner, saying "We should have acted faster. It's too bad." He also indicated interest in keeping the ceremonial bell used Monday and displaying it in the White House's newly renovated ballroom once construction completes.
The initiative reflects an unusual convergence of presidential ambition and wealthy philanthropic interests. Trump used the occasion to pitch Dell computers, joking "We're going to get him that money back one way or another," in reference to Dell's contribution.
Author James Rodriguez: "This is clever politics, wrapping a genuine savings program in presidential branding while billionaires get tax benefits and prime real estate in Trump's good graces."
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