Billionaire Ray Dalio and his wife Barbara have committed to seed “Trump accounts,” a type of investment account for kids.
“Ray has joined what we are calling the 50-state challenge,” Treasury Secretary Scott Bessent said in a press conference on Wednesday. “We are inviting every philanthropist in every state across the country to partner with us in building generational wealth for America’s children through Trump accounts.”
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. This initiative got a major boost when billionaires Michael and Susan Dell announced a $6.25 billion gift to seed accounts for millions of older children as well.
“Barbara and I believe strongly in the importance of equal opportunity and believe this initiative is an important step in that direction,” Ray Dalio, who is the founder of the investment firm Bridgewater Associates, said in a statement.
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A Wednesday update on trumpaccounts.gov ahead of the announcement named the Dalios in a section on additional support: “Michael and Susan Dell, Ray and Barbara Dalio. More to come.”
Companies that announced their contributions to the Trump accounts include BNY and Blackrock. BNY announced on Dec. 11 that the company will match the federal government’s $1,000 seed money for eligible newborns of its U.S. employees. On Wednesday, BlackRock said it would also match the one-time $1,000 donation for children of its U.S. employees.
Trump accounts were created under President Trump’s “big beautiful bill,” which Congress passed in July. In order to create a Trump account, an election must be made on IRS Form 4547. The form can be filed separately or with 2025 tax returns. This can also be done online from 2026, on trumpaccounts.gov.
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The annual contribution would be capped at $1,000 for each account. This amount would be later adjusted for inflation. The idea is for parents, relatives and even the employers of caregivers to pitch in money over time. The federal government, as well as state, local or tribal governments, could also contribute and aren’t subject to the cap.
The accounts would be locked up till the child turns 18. At that point, Trump accounts essentially become individual retirement accounts, which can be used penalty-free for certain expenses such as higher education or first-time home purchases.
Only one account is allowed per person. The U.S. Treasury will issue regulations requiring the funds be invested in mutual or exchange-traded index funds (ETFs) that “primarily” hold U.S. stocks. Funds must charge low fees and not use leverage, according to the law signed in July.