WASHINGTON — President Donald Trump announced Wednesday that 70 million American minors have been automatically enrolled in “Trump Accounts,” a government-backed investment initiative designed to build financial security for the nation’s youth by the time they reach adulthood.
Speaking from the Oval Office surrounded by top economic advisors and private philanthropists, Trump described the milestone as a vital step to ensure every American child has a fair shot at the American Dream.
”Today, I’m pleased to announce that every single eligible minor child in America has now been automatically enrolled in a Trump Account,” the president said. “If all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18 and then 21.”
The massive enrollment push was finalized on Oct. 1, when the Treasury Department automatically opened accounts for 60 million children under the age of 18. This massive wave adds to the 10 million children whose parents had already opted in manually following the program’s official launch on July 4. White House spokeswoman Taylor Rogers confirmed that the automatic enrollment phase is now complete, making it easier than ever for families to participate.
The financial framework of the Trump Accounts relies on a unique blend of federal funding and significant private-sector backing. According to the administration, $2.2 billion had already been deposited into the accounts prior to the October expansion. Moving forward, the Treasury Department has pledged a one-time $1,000 seed contribution for every child born between Jan. 1, 2025, and Dec. 31, 2028.
While children born outside of that specific timeframe will not receive the initial federal seed money, their accounts remain active. Family members, friends, and private donors are free to deposit money into any child’s account to help it grow over time.
The initiative has attracted staggering support from corporate America and private donors. Dell Technologies CEO Michael Dell and his wife, Susan, jump-started the program with a massive $6.25 billion contribution, which is expected to help fund accounts for roughly 25 million children. Furthermore, a coalition of major U.S. companies—including Charles Schwab, Robinhood, SoFi, Uber, Nvidia, and BNY—have pledged to match the federal government’s initial contribution for the children of their eligible employees.
According to a notice published in the Federal Register, the Treasury opted for automatic enrollment to maximize participation, ensuring that no child loses out on investment growth simply because an adult failed to fill out paperwork. Parents no longer need to sign up; they can simply claim and monitor their child’s existing portfolio through the official Trump Accounts mobile app.
The funds are strictly locked and managed until the beneficiary turns 18. Once they reach adulthood, the money cannot be spent freely. The Treasury Department has stipulated that funds can only be allocated for designated wealth-building purposes, such as paying for university tuition or purchasing a first home.
In a rare display of political unity, the initiative has drawn significant praise from across the aisle. Democratic figures have openly supported the wealth-building strategy. Maryland Governor Wes Moore praised it as “smart policy,” while California Governor Gavin Newsom went as far as calling it “one of the best things” Trump has done in office.
The concept mirrors a 2023 proposal by Democratic Senator Cory Booker and Representative Ayanna Pressley, who introduced a similar “baby bonds” bill that failed to make it out of committee. Booker has since thrown his public support behind Trump’s newly realized program.
