25 million American children are scheduled to receive $250 deposited into their Trump Accounts this week, following a $6.25 billion donation from Michael and Susan Dell to the program.
Parents curious about whether their kids qualify should visit the Q&A page on the Invest America website titled “Did Your Child Receive the Dell’s $250 Contribution?”
The page indicates that eligible recipients were born between 2016 and 2024, making them 10 years old or younger; all payments should be completed by Friday, October 9; and parents should review their children’s Trump Accounts early next week to confirm receipt.
The Dells’ contribution was initially directed to children residing in the nation’s lowest-income ZIP codes, then progressively expanded to additional neighborhoods until reaching 25 million children, according to the webpage.
The final ZIP codes included had median family incomes of $115,000 or less based on the most recent US Census data, below the originally planned $150,000 threshold.
Parents can determine their ZIP code’s median income by consulting Census Reporter’s median family income table.
The $250 donation is being provided to all eligible children living on military bases, while funds for kids in foster care have been reserved until details are finalized, with “contributions expected next year.”
Michael Dell told Yahoo Finance in a recent interview that he hopes the gift will place children “on the path of saving and investing and learning about compounding.”
The founder of PC manufacturer Dell ranked fifth on the Bloomberg Billionaires Index with a $268 billion net worth at Wednesday’s close, placing him ahead of Meta’s Mark Zuckerberg, Nvidia’s Jensen Huang, and Oracle’s Larry Ellison.
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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 ensuring more low-income Americans are invested in the stock market and can benefit from the power of long-term compounding.