Billionaire Ray Dalio joins push to fund Trump Accounts: ‘Been fortunate to live the American Dream’
On Wednesday the U.S. Treasury called on big philanthropic donors to put money into new child‑investment accounts that are part of what Secretary Scott Bessent termed a “50 State Challenge”—an effort to build up funding for the Trump Accounts program.
“The president is calling on our nation’s business leaders and philanthropic organizations to help us make America great again by securing the financial future of America’s children,” Bessent said in a speech.
Ray Dalio, the billionaire who founded Bridgewater Associates, announced that he and his wife Barbara would contribute $250 to each of about 250,000 children under ten living in Connecticut ZIP codes with household incomes below $150,000.
In a statement, Dalio said, “I have been fortunate to live the American Dream. At an early age I was exposed to the stock market, and it changed my life,” and he added that the accounts are intended to set kids on a path toward financial independence.
Dalio’s $75 million pledge follows Michael and Susan Dell’s earlier promise of $6.25 billion, which will fund 25 million children 10 and under across the nation who live in ZIP codes with a median income of $150,000 or less.
The accounts were created under President Trump’s tax and spending package that the Treasury will use to deposit $1,000 into each account for children born during his second term. The Treasury has not yet launched the accounts.
Bessent said that beginning on July 4—America’s 250th anniversary—parents, family members, employers and friends can contribute up to $5,000 each year to a child’s Trump Account.
Brad Gerstner, a venture capitalist who helped promote the accounts, explained that the Treasury will open a separate account for every U.S. child with a Social Security number, but private firms will administer them in the future.
Parents or guardians must claim each account, and families of children born before Trump’s presidency who do not qualify for the Dell or Dalio funds can still open and fund their own account if they wish.
All money in the accounts must be invested in an index fund that tracks the overall stock market. When the children reach 18, they can withdraw the funds to pay for college, buy a home or start a business.
Bessent noted that employers, family members and philanthropists can add money to the accounts, and that the administration hopes states will develop programs to invest as well. Firms including Visa and BlackRock have already pledged to help fund the accounts of their employees’ children.
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