Michael and Susan Dell pledge $6.25 billion for kids’ savings accounts

Michael Dell, CEO of Dell Computer, and wife Susan announce the donation of $50 million over 10 years to the University of Texas at Austin for the creation of a new Dell Medical School. (Robert Daemmrich/Corbis via Getty Images)

(NEW YORK) — In a major philanthropic move, billionaires Michael and Susan Dell are donating $6.25 billion dollars to deposit $250 into savings accounts for up to 25 million American children.

The announcement from the Dells, which was confirmed by a White House official, gives the funds to Invest America, which sets up a tax-advantaged investment account for American children starting at birth.

The so-called Trump Accounts are a key piece of President Trump’s signature tax and spending legislation, which passed earlier this year.

Under that law, the Treasury Department will give $1,000 to the accounts for children born between Jan. 1, 2025, and Dec. 31, 2028. Those accounts become the property of a child’s guardian and “will track a stock index and allow for additional private contributions of up to $5,000 per year,” according to the White House.

The donations from the Dells will supplement that federal funding, expanding the number of children who will qualify for accounts.

The more than $6 billion in funds from the Dells will go to “most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,” though Tuesday’s announcement adds that some children older than 10 may also be eligible if there is funding left over after the initial sign-ups.

There are still logistical questions about the donations, but the website for Invest America says sign-ups for the accounts are expected to open July 4, 2026.

“We’ve seen what happens when a child gets even a small financial head start – their world expands,” Michael Dell said in a video announcing the news.

Trump celebrated the move Tuesday morning, posting a link to a new article about the announcement and calling the Dells “TWO GREAT PEOPLE.”

“I LOVE DELL!!!,” Trump added in the social media post.

A White House official confirmed that Dell will join Trump at the White House Tuesday for the 2 p.m. announcement. White House spokesperson Kush Desai called the accounts “revolutionary investment by the federal government into the next generation of American children” in a statement about the donation.

“It’s also President Trump’s call to action for American businesses and philanthropists to do their part, too – Michael and Susan Dell’s $6 billion investment into America’s children is the first of many announcements to come for America’s children,” Desai added.

In June, Michael Dell attended a roundtable at the White House and spoke alongside Trump about how access to the savings accounts for American children will be a “simple yet powerful way to transform lives.”