President Donald Trump announced Monday that the federal government has deposited an initial $1,000 into more than 500,000 so-called “Trump Accounts,” a new program intended to give newborn Americans an early entry point into the stock market and help build long-term wealth.
To mark the occasion, Trump rang the opening bell from the White House Oval Office alongside top executives from the New York Stock Exchange and Nasdaq — two rival exchanges whose cooperation, Trump noted, was something neither Democrats nor Republicans had previously managed to achieve.
Among those present for the bell-ringing were Nasdaq CEO Adena Friedman, Nasdaq President Nelson Griggs, Intercontinental Exchange CEO Jeffrey Sprecher, and NYSE Group President Lynn Martin.
The program is open to U.S. citizens born between 2025 and 2028. Funds deposited into the accounts are automatically placed into a low-cost index fund geared toward long-term growth. Account holders gain full control of their accounts when they turn 18, at which point they may withdraw the money or continue investing. Any gains will be subject to taxes upon withdrawal.
Backers of the program say it promotes long-term investing habits and financial literacy from an early age. Critics, however, raise concerns that families with tight budgets may struggle to make additional contributions, potentially limiting the full benefit of the accounts. The program operates alongside existing tax-advantaged savings tools such as college savings plans and retirement accounts.
Trump said the initiative gives children who are not born into wealth a meaningful financial foundation, and he cautioned account holders against pulling money out early, particularly given the current strength of the market.
The rising cost of living has emerged as a significant concern for voters ahead of the November midterm elections.
A number of major American companies have announced their support for the program through employer matches or additional seed funding. Participating businesses include payment giant Visa, technology firm Dell, and media and telecommunications company Comcast. Chipmaker Micron has committed $250 million specifically to support the Trump Accounts initiative.
Republican Senator Ted Cruz of Texas, who attended the program’s launch, offered his take on the broader goal: “Trump Accounts are about making every child and every American a capitalist. Every one of our kids is now going to be an owner of the biggest producers in our country.”
