‘Trump Accounts’ for kids get funding boost from Dalio and BlackRock

A new savings vehicle, dubbed “Trump accounts,” is designed to help the rising generation of American children build wealth into adulthood. 

Under the multitrillion-dollar tax and spending bill signed by President Donald Trump in July, the federal government will contribute $1,000 to accounts set up for every American baby born in the next few years. 

The initiative got a boost on Dec. 2 when billionaires Michael and Susan Dell announced a $6.25 billion gift to seed accounts for millions of older children as well. Other big names in business and finance, including Bridgewater Associates founder Ray Dalio and BlackRock Inc., soon followed with smaller pledges of their own.

Lawmakers significantly scaled back the flexibility and tax benefits of the p...