25 million American children are set to receive $250 into their Trump Accounts this week, after Michael and Susan Dell donated $6.25 billion to the program.
Parents wondering whether their children will receive the gift should visit the Q&A page on the Invest America site titled “Did Your Child Receive the Dell’s $250 Contribution?” It says that eligible recipients were born between 2016 and 2024, making them age 10 or younger; all payments should be made by Friday, October 9; and parents should check their children’s Trump Accounts early next week to see if they received the gift. 🥰😍🥹 https://t.co/ZNAAQBOTWF The Dells’ contribution was first allocated to kids living in the nation’s lowest-income ZIP codes, and expanded to more and more neighborhoods until 25 million children were reached, the webpage says.
The last ZIP codes to be included had median family incomes of $115,000 or less based on the latest US Census data, below the initially planned $150,000 cap.
Parents can find their ZIP code’s median income by visiting Census Reporter’s median family income table.
The $250 donation is being made to all eligible children living on military bases, and funds have been held back for kids in foster care until the details are ironed out, with “contributions expected next year.” Michael Dell told Yahoo Finance in a recent interview that he hoped the gift would put children “on the path of saving and investing and learning about compounding.” No parades please, but instead if you can teach your kids about investing, compounding and capitalism that would be great 🙏 The founder of PC maker Dell ranked fifth on the Bloomberg Billionaires Index with a $268 billion net worth at Wednesday’s close, putting him ahead of Meta’s Mark Zuckerberg, Nvidia’s Jensen Huang, and Oracle’s Larry Ellison.
More than 70 million children have opened Trump Accounts to date.
The program’s supporters have said it will help narrow the wealth gap by making sure more low-income Americans are invested in the stock market and can benefit from the power of long-term compounding.
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