Ray Dalio donates $75 million to ‘Trump Accounts’ as Scott Bessent leads ‘50 State Challenge’ to invest in America’s kids

“The president is calling on our nation’s business and philanthropic leaders to help us make America great again by securing the financial future of America’s children,” Besant said in a speech.

Billionaire hedge fund founder Ray Dalio, along with his wife Barbara, announced they would commit $250,000 to 300,000 to children under the age of 10 in Connecticut who live in zip codes where the median income is less than $150,000. Dalio founded the investment firm Bridgewater Associates and lives in Connecticut.

“I’ve been fortunate to live the American dream. At a young age, I was exposed to the stock market, and it changed my life,” Ray Dalio said in a statement, adding that he sees the accounts putting children on the path to financial independence.

Dalios’ $75 million commitment follows billionaires Michael and Susan Dell’s $6.25 billion pledge earlier in December. Dells promised to invest $250 in the accounts of 25 million children ages 10 and younger who live in ZIP codes across the country who also have that middle income.

The new investment accounts were created as part of President Donald Trump’s tax and spending legislation, which was passed over the summer. Under the new law, the US Treasury will deposit $1,000 into investment accounts for children born during Trump’s second term.

The Treasury Department has not yet released the new accounts.

“Beginning on the Fourth of July, the 250th anniversary of our nation’s founding, parents, family members, employers and friends will be able to contribute up to $5,000 to each Trump account each year,” Picent said Wednesday.

The Treasury Department will set up one for every child in the United States with a Social Security number, but private companies will eventually manage the accounts, said venture capitalist Brad Gerstner, who championed the accounts. Parents or guardians will have to claim the accounts on behalf of their children. For children born before Trump took office who do not qualify for funds from the Dells and Dalios, their families can open and fund their own Trump account if they choose.

The money in the accounts must be invested in an index fund that tracks the overall stock market. When children turn 18, they can withdraw money for their education, buy a house, or start a business.

Employers, family members and philanthropists can put money in the accounts, Pisant said, and the administration hopes states will also eventually set up programs to invest in the accounts. Companies, including Visa and BlackRock, have also pledged to contribute in some way to the accounts of their employees’ children.

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