President Donald Trump announces that all eligible minor children in America have been automatically enrolled in Trump accounts. Tax-free investment accounts created by the government aim to grow throughout children’s lives.
President Donald Trump held a press conference Wednesday in the Oval Office to celebrate the automatic enrollment of millions of American children into his “Trump accounts.”
The Treasury Department announced last week that every eligible child under 18 with a valid Social Security number now has a Trump account, bringing the total to about 70 million accounts, according to the White House.
Parents or guardians must always claim their child’s auto-enrolled account before they can manage it or start receiving contributions.
“If everything goes well, and I think it will, they’ll end up being pretty wealthy at 18, and then at 21, and over time,” Trump said. “This money is your child’s future. And when you were a child once upon a time, your child turned 18 and there was nothing.”
President Donald Trump speaks about “Trump Accounts,” children’s savings accounts, in the Oval Office of the White House in Washington, DC, October 7, 2026. (Alex WROBLEWSKI / AFP via Getty Images / Getty Images)
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An estimated 80% of Trump accounts are linked to families earning less than $200,000 a year, a White House official told Fox News. The official said automatic enrollment also expands access to philanthropic contributions, allowing private donors to help jumpstart children’s savings.
Trump thanked Michael and Susan Dell for donating about $6.25 billion to Trump accounts, enough to provide 250 million to 25 million account holders. Michael Dell, CEO of Dell Technologies, said the funds would be deposited by the end of this week.
“We believe in you and we want you to dream big because we know you can achieve your dreams,” said Susan Dell. “So parents and grandparents, please claim your child’s account. These accounts are ready. They’re waiting for you and they have money in them.”
Contributions from private donors are in addition to the federal government’s one-time $1,000 contribution to certain account holders.
Dell Technologies CEO Michael Dell and his wife Susan Dell stand next to President Donald Trump as he sits in the Oval Office on October 7, 2026. The couple donated $6.5 billion to the Trump Account program, funding millions of children’s accounts. (Anna Moneymaker/Getty Images)
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To qualify, the beneficiary must be born between January 1, 2025 and December 31, 2028, meaning the vast majority of children will not receive the Treasury payment and will instead rely on contributions from family members and other eligible contributors.
Trump accounts are tax-advantaged brokerage accounts that were created last year by the tax and spending law signed by Republicans in the Big Beautiful Bill.
The accounts are legally structured as IRAs, but are subject to special restrictions, including a withdrawal ban until the beneficiary turns 18.
The normal contribution limit is $5,000 per year for 2026 and 2027, with adjustments for inflation thereafter. The initial payment of $1,000 from the government does not count towards this $5,000 limit.
Children hold a banner celebrating the Trump accounts during the White House press conference, October 7, 2026. (Alex WROBLEWSKI / AFP via Getty Images / Getty Images)
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Family and friends can contribute up to $5,000 per year, while employers can contribute up to $2,500 per year.
Trump said more than 70 companies have agreed to contribute to the Trump account for their employees’ children, including Uber, Intel, Nvidia and Steak n’ Shake.
“Now every member of the next generation will have an investment account and benefit from our booming economy,” Trump added.
Parents and guardians can claim and manage their children’s Trump accounts through the official app, available on the Apple App Store and Google Play. There is also a web version.
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