Trump auto-enrolls 10s of millions in child investment accounts
President Trump announced Wednesday that every American child with a valid Social Security number has been auto-enrolled in a 'Trump Account,' a tax-advantaged investment account parents must claim through a mobile app. Children born 2025 through 2028 get a one-time $1,000 government deposit, while those born earlier, up to age 10, qualify for a $250 donation from the Michael and Susan Dell Foundation.
The White House says 8 million accounts have been voluntarily created since the July 4 launch and estimates over 60 million more via auto-enrollment, without providing a specific figure. More than $4.5 billion has reportedly been deposited total, split between $1.3 billion in Treasury seed money, $2.6 billion in claimed philanthropic contributions, and $638 million from family and friends, who can add up to $5,000 annually with employer matches up to $2,500.
Treasury Secretary Scott Bessent called it the start of an 'ownership society' and said children he'd spoken with already understood compounding interest. The White House projects the $1,000 seed could grow to roughly $6,000 by age 18 with no further contributions, or approach $200,000 with maximum annual contributions at a 7% assumed return, per a Fidelity hypothetical not adjusted for inflation.
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