Billionaire couple Michael and Susan Dell have revealed the reasoning behind their decision to donate $6.25 billion to Donald Trump’s ‘Trump Accounts’ for over 25 million children in the USA.
Michael Dell - CEO of computing giant Dell Technologies - and his wife are pledging the huge sum to place into the accounts of American children with the aim of giving them a financial jumpstart in life.
Michael and Susan Dell are supporting the ‘Trump Accounts’ with a huge pledge
The Trump Accounts were announced as part of the President’s One Big Beautiful Bill Act and - along with the $2,000 or so that he has promised to almost all Americans - are one of the most attention-grabbing policies.
The idea is to set up investment accounts for kids, and the Treasury will automatically add $1,000 to accounts of those born between 2025 and December 2028.
The accounts can then be topped up by various family members, government, and non-government entities, although the exact specifications are a bit more complex than that.
Michael and Susan Dell. Credit: Chip Somodevilla/Getty
The Dells’ donation will go to kids who are aged 10 and under and were born before the cut-off point for the funding from the US Treasury.
There will be $250 deposits made into accounts for at least 25 million children, taking the total amount pledged up to $6.25 billion.
It almost goes without saying that this is one of the biggest donations of this kind ever.
Speaking to CNN, Michael Dell said: “We feel super excited to be able to make a difference in millions of children’s futures and create opportunity, hope and prosperity for them,
“If you think about the power of compounding and what these accounts are likely to become over 10, 20, 30 years, that’s super significant.”
The rules as the White House has them. Credit: X
Dell and his wife are worth a lot of money
Michael founded Dell Technologies back in 1984 and is the 11th richest person in the world.
His net worth, according to the Bloomberg Billionaires Index, is $148 billion, although he is known for generosity to charity as well.
So far, the Dell family are known to have given $2.9 billion to charities, and now they’ve gone and added this whopper to the list as well.
Susan Dell told CNN: “When we heard about this idea, we were thrilled, because this allows us to reach such a huge number of children with this program,
“Investing in children and their future is really investing in all of our futures. Children are the future. So we couldn’t be more excited about this program.”
As for Trump, he told reporters at the White House that the accounts will help 'family members, employers, corporations [and] generous donors to contribute money that will be invested and grow over the course of a child’s life to be used for their benefit after they turn 18.’