President Donald Trump rang the opening bells for the New York Stock Exchange and the Nasdaq from the Oval Office on Monday to mark the launch of Trump Accounts, a new investment program for children created under last year's One Big Beautiful Bill Act.
A group of children joined Trump and Treasury Secretary Scott Bessent in the Oval Office for the announcement. The accounts are designed to let children under 18 build savings in a tax-deferred investment vehicle, similar in structure to an individual retirement account for adults.
"The American dream belongs to every child, and today, we are equipping the next generation with the right to claim their rightful share of it," Bessent said. "Through Trump Accounts, our president is creating an ownership economy, an ownership economy where all citizens become shareholders."
As of July 4, parents, guardians, employers and other contributors can deposit money into the accounts, also known as 530A accounts. Children born between January 1, 2025, and December 31, 2028, who open an account will also receive a $1,000 Treasury Department contribution invested in the stock market. Six million people have signed up so far, according to a Treasury Department spokesperson.
During what the program calls the "growth period," contributions must go into mutual funds or exchange-traded funds that track large indexes such as the S&P 500. After the beneficiary turns 18, the account operates like a traditional IRA. Bank of New York Mellon will initially administer the accounts in partnership with online brokerage firm Robinhood.
Billionaire philanthropists Michael and Susan Dell announced they would contribute $6.25 billion to 25 million American children born between 2016 and 2024 to ensure children born before Trump's second term are not excluded from the program. The Dells urged other wealthy individuals and companies to contribute as well.
Trump spoke directly about the program's intended reach. "Think of it," he said. "Children that are born without money, without any money, great parents, they can have everything can be great, but they have no money. They could become very wealthy children at 18."
Bessent has previously emphasized that the accounts target a gap in American financial life. "Today, 38% of American adults do not own stocks," he said last December. "But with Trump Accounts, over time, we can get that number down to zero."
The launch comes as Trump faces pressure on economic approval. Only 33% of U.S. adults approve of his economic leadership, according to a June survey by The Associated Press-NORC Center for Public Affairs Research. The consumer price index has climbed 4.2% over the past 12 months, up from 3% when Trump began his second term in January 2025.
