Billionaire Philanthropy Boosts Invest America Accounts for Kids

Billionaire investor Ray Dalio commits $75 million towards investment accounts under a Trump initiative. The program, set for launch by 2026, aims to support children's future through savings accounts. Corporates like BlackRock and philanthropists like Michael Dell join the wave of donations, boosting the initiative's reach.

Billionaire investor Ray Dalio has pledged $75 million to bolster investment accounts designed to support children's futures in Connecticut, as announced by Treasury Secretary Scott Bessent on Wednesday. This initiative is part of a broader effort by the Trump administration to engage philanthropic support across the country.

Created under President Donald Trump's 'One Big Beautiful Bill Act,' this program promises a $1,000 federal deposit into investment accounts for children born between 2025 and 2028. It has captured the interest of numerous corporations and philanthropists eager to contribute.

Apart from Dalio, investment giants like BlackRock, Charter Communications, BNY, Block, Uber, Visa, and Mastercard have pledged their support, committing to match the government's contribution. Entrepreneur Michael Dell and his wife, Susan, further amplify the program with a substantial $6.25 billion donation, enhancing the initiative's impact.

(With inputs from agencies.)