The Dells hope their massive gift will spur employers, governments and philanthropists to contribute to the next generation’s financial future. Jake Rutherford/Courtesy Michael & Susan Dell Foundation
Michael Dell, CEO of Dell Technologies, and his wife Susan are putting $6.25 billion toward expanding a new government project that will establish savings accounts for millions of American children. The donation from the billionaires will place $250 each in the accounts of 25 million kids aged ten and under. “If there’s one investment that never stops growing, it’s investing in children,” said the Dells in a statement. “They are our future.”
The tax-advantaged accounts, nicknamed “Trump accounts,” were created this year through President Donald Trump’s One Big Beautiful Bill Act. All children under 18 with a U.S. Social Security number are eligible. The accounts, which can be used to invest in stock market index funds, will begin accepting sign-ups on July 4 of next year.
For children born on or after Jan. 1, 2025, the U.S. Treasury will provide a $1,000 seed deposit. The Dells’ funds, meanwhile, will target older children. Their $250 deposits will reach nearly 80 percent of kids under ten and under across 75 percent of U.S. ZIP codes, with an emphasis on areas where the median household income falls below $150,000. If money remains after the initial wave of sign-ups, the Dells said their donation will also benefit children older than ten.
Each account can receive up to $5,000 annually from parents and community members, while employers can contribute up to $2,500 each year to the accounts of their employees’ children. Philanthropists, charitable organizations and state and local governments can contribute with no annual cap.
Upon turning 18, beneficiaries of the accounts can start using a portion of their savings to invest in education, job training, starting a business or buying a first home. Accounts will also convert to traditional IRAs at this age.
The Dells were inspired to launch their seeding initiative after discussions with Brad Gerstner, founder of Invest America, a nonprofit that helped push for the legislation behind the Trump accounts. Michael has publicly supported the concept before and earlier this year attended a White House roundtable dedicated to the idea.
Dell, the world’s ninth wealthiest person with an estimated net worth of $151 billion, launched Dell Technologies in the 1980s while attending the University of Texas. He and Susan have since given much of this fortune to charity, with the couple donating nearly $3 billion to causes including health, education and economic mobility through the Michael and Susan Dell Foundation.
To ensure the savings accounts grow meaningfully, the couple is urging philanthropists, employers and parents to contribute additional funds. Dell Technologies also plans to participate by matching the U.S. Treasury’s $1,000 deposit for newborn children of its U.S. employees.
“We believe this effort will expand opportunity, strengthen communities, and help more children take ownership of their future,” said the Dells. “And we believe everyone has a role to play.”
