President Donald Trump announced that nearly 70 million investment accounts have been created for American children under the Trump Accounts program.
The president celebrated the milestone during an Oval Office event on Oct. 7, following the Treasury Department’s completion of automatic enrollment for eligible children under 18 with valid Social Security numbers.
According to the White House, more than 60 million of the accounts were created through automatic enrollment, bringing the total to nearly 70 million.
The tax-advantaged investment accounts are designed to help children build savings that can grow over time.
“If all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18, and then 21, and as time goes by,” Trump told reporters.
“This money is your child’s future,” he added.
Treasury Secretary Scott Bessent announced the automatic enrollment initiative on Oct. 1, saying more than 60 million additional children now had accounts ready for their families to claim.
Although the accounts have been created automatically, parents or guardians must claim them before they can manage the funds or receive contributions.
Families can complete the process through the official Trump Accounts app, available on Apple and Android devices, or through its web version.
Eligible children born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 contribution from the federal government.
The accounts were established under the Republican-backed tax legislation Trump signed in 2025.
Parents, relatives, and other contributors can deposit up to $5,000 annually into a child’s account. Employers can contribute up to $2,500 per year, subject to the overall annual limit.
The accounts are held in the child’s name and managed by parents or guardians until age 18. Withdrawals are generally prohibited before that age.
According to the White House, more than $4.5 billion has been deposited into Trump Accounts since the program launched on July 4.
That includes $1.3 billion in federal contributions, more than $600 million from families and friends, and $2.6 billion in philanthropic donations.
The administration also reported that approximately 80% of Trump Accounts are associated with families earning less than $200,000 annually.
Private companies and philanthropists have also pledged financial support.
Michael Dell, CEO of Dell Technologies, and his wife, Susan Dell, committed approximately $6.25 billion to provide $250 contributions to 25 million children’s accounts.
Michael Dell said the deposits would be made by the end of the week.
More than 70 companies have also committed to contributing to Trump Accounts for their employees’ children, including Uber, Intel, Nvidia, and Steak ‘n Shake.
The accounts invest in funds that track US stock market indexes, allowing balances to grow over time based on market performance.
The White House estimates that children who receive regular contributions could accumulate substantial savings by adulthood and retirement, although actual balances will depend on contributions and investment returns.
“Now, every member of the next generation will have an investment account and will benefit from our booming economy,” Trump said.