Dell Pledges $1,000 for Newborns of Employees

Dell Technologies announced on Monday that it will contribute $1,000 to a special savings account—nicknamed the Trump Account—for every newborn child of its U.S. employees. This pledge matches the amount the federal government would offer under a new savings program currently being considered by Congress.

Michael Dell, CEO of Dell Technologies, shared this commitment during a White House roundtable hosted by President Donald Trump. The program aims to help families build long-term savings for their children.

Support from Other CEOs

The initiative, part of a broader Republican budget bill, also received verbal support from other business leaders. Uber CEO Dara Khosrowshahi and Goldman Sachs CEO David Solomon expressed their approval of the proposed accounts. While they didn’t make exact financial commitments like Dell, Solomon said Goldman Sachs would support the program if the bill becomes law.

Brad Gerstner, CEO of Altimeter Capital and founder of Invest America, later told CNBC that all CEOs present at the meeting agreed to contribute at a level “appropriate to their company,” though details were not provided.

Program Details: What Are “Trump Accounts”?

The proposed accounts—previously referred to as MAGA Accounts (Money Accounts for Growth and Advancement)—would be seeded with $1,000 from the U.S. government. Eligible children must be born between January 1, 2025, and December 31, 2028.

These tax-deferred accounts would track the performance of the U.S. stock market, and families could contribute up to $5,000 per year. The money would be managed by the child’s guardian and could be accessed when the child turns 18.

According to the proposal, the U.S. Treasury Department would fund the initial deposit. The goal is to help young Americans begin adulthood with a financial foundation, similar to how 529 college savings plans work.

Political Hurdles Ahead

The savings account provision has already passed the House of Representatives as part of a sweeping tax reform bill that President Trump is urging Republicans to finalize before July 4. However, the bill still needs to pass the Senate, where some fiscally conservative Republicans are pushing back, calling for significant revisions.

At the White House event, Trump was joined by House Speaker Mike Johnson (R-La.) and House Ways and Means Committee Chairman Jason Smith (R-Mo.), who support the plan.

Aiming to Change the Future of Middle-Class Families

The White House is promoting the Trump Account program as a game-changing move for American families. “The passage of the One Big Beautiful Bill will literally change the lives of working, middle-class families,” said White House Press Secretary Karoline Leavitt.

She added that it would deliver historic tax cuts, expand the child tax credit, and create “this incredible new ‘Trump Account’ program, which will put the lives of young Americans on the right financial path.”

Though some financial experts question whether the accounts offer the best return on investment, supporters believe they could encourage a culture of saving from an early age.