Entrepreneur Michael Dell and his wife pledge $6.25 billion to deposit $250 in the individual investment accounts of 25 million American children as part of the Trump administration’s Invest America initiative. The U.S. Treasury will also deposit $1,000 into accounts for children born between 2025 and 2028, sparking interest from financial firms.

Invest America accounts are set to open on July 4 next year, with funds invested in an index fund mirroring the stock market. Michael Dell believes investing in children is crucial for their future success. The donation announcement led to Dell’s shares rising by over 3%.

The Dells aim to benefit mainly children up to age 10 from families with a median income of $150,000 or less. The $6.25 billion pledge comes from personal funds, not the couple’s foundation. Michael Dell’s net worth is nearly $150 billion, according to Forbes.

Financial firms are lobbying to participate in the program, advocating for a competitive marketplace for account trustees and custodians. Groups like the Investment Company Institute and asset managers such as BlackRock and Franklin Templeton are vying for involvement in the Trump accounts initiative.

Read more at Yahoo Finance: Dell family to donate $6 billion to ‘Trump accounts’ of 25 million US children