Billionaire hedge fund manager Ray Dalio and his wife, alongside investment firm BlackRock, are expected to help fund the Trump administration’s investment accounts for children, both parties said in separate statements Wednesday.
They join tech boss Michael Dell and his wife Susan in contributing to the so-called “Trump accounts,” part of the “One Big Beautiful Bill” that the Republican president pushed through Congress in July.
The accounts contain a US$1,000 deposit for children born in 2025 through 2028, funded by the government. Treasury Secretary Scott Bessent said Wednesday that his department is looking to rally further private donors to sweeten the deal.
“Thus far, 20 states are considering topping up the accounts,” Bessent noted at an event in Washington.
Dalio said in a post on social media that he would donate around US$75 million — matching Dell’s US$250 contribution per child — for around 300,000 children in the state of Connecticut.
Dell made his US$6.25 billion pledge to the initiative on Dec. 2.
Separately, BlackRock said in a statement that it will “offer an employee match to the U.S. government contribution of [US]$1,000” for eligible U.S. staff.
The “Trump accounts” for babies were part of the tax and spending bill that Trump pushed Republicans to get through a reluctant Congress and cement his second term agenda.
The bill also included massive new funding for Trump’s migrant deportation drive, while gutting health and welfare support and sparking concerns that it would balloon the U.S. national debt.
