Billionaire Ray Dalio joins push to fund Trump Accounts, pledging $75 million to Connecticut kids
The latest headlines from our reporters across the US sent straight to your inbox each weekdayYour briefing on the latest headlines from across the USYour briefing on the latest headlines from across the USBillionaire investor Ray Dalio is committing funds to the Trump administration's new investment accounts for children in Connecticut, Treasury Secretary Scott Bessent confirmed on Wednesday. This move comes as another major firm pledged to match employee contributions to the scheme.Dalio's involvement is part of a wider drive to secure donors across every U.S. state, with Bessent noting that 20 other states are considering adding funds to these accounts. The initiative, established this year under President Donald Trump's One Big Beautiful Bill Act, aims to deposit $1,000 into investment accounts for all children born between 2025 and 2028, sparking significant interest from financial firms.Investment giant BlackRock became the latest company on Wednesday to announce it would match the government's $1,000 contribution for its employees. Other prominent firms supporting the accounts include Charter Communications, BNY, Block, Uber, Visa, and Mastercard, according to the administration. Furthermore, entrepreneur Michael Dell and his wife, Susan, have pledged a substantial $250 in the individual investment accounts of 25 million American children in a $6.25 billion philanthropic pledge backing the initiative.The "Invest America" accounts are slated to open on July 4, 2026 (REUTERS)The "Invest America" accounts are slated to open on July 4, 2026. However, specific operational details remain undisclosed, and it is currently unclear how the scheme will effectively boost savings for lower-income Americans. The funds, which must be invested in an index fund mirroring the broader stock market, will become accessible to recipients at age 18 for purposes such as education, job training, purchasing a first home, or starting a business. Internal Revenue Service Chief Executive Officer Frank Bisignano has indicated that further details about the accounts will be released soon.Earlier this month, when first unveiled, Trump said the accounts would be “the first ... real trust funds for every American child, allowing family members, employers, corporations, generous donors to contribute money that will be invested and grow over the course of a child's life to be used for their benefit after they turn 18.”
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