Trump Announces Automatic Enrollment of 70 Million Children in Trump Accounts as Michael Dell Commits $6.25 Billion

President Trump announced at a White House event on October 7 that every eligible American child, totaling approximately 70 million, will be automatically enrolled in Trump Accounts, the tax-deferred children's savings vehicles formally known as 530A accounts. Trump declared the children could be "quite rich" by age 18, framing the push as a centerpiece of his economic agenda ahead of the midterm elections.

The Treasury Department, which opened auto-enrollment on October 1, confirmed that over 60 million children with valid Social Security numbers had already been enrolled. Auto-opened accounts cannot accept outside contributions until a parent or guardian formally claims the account, and children born between 2025 and 2028 are eligible for a one-time $1,000 pilot program deposit from Treasury.

Michael Dell took the stage to announce that he and his wife Susan had fulfilled a pledge of $6.25 billion, representing $250 deposits into 25 million Trump Accounts for children in lower- and middle-income ZIP codes. Dell said 10 million of those accounts had been funded as of that morning and that all 25 million would be funded by the end of the week. More than 50 other corporations had also made contribution commitments alongside the Dell pledge.