In a significant boost to a new financial initiative, billionaire investor Ray Dalio has pledged his support for the Trump administration's proposed child investment accounts, known as Trump Accounts. Treasury Secretary Scott Bessent made the announcement on Wednesday, December 17, revealing that Dalio joins a growing list of high-profile backers that includes technology magnate Michael Dell.
Public-Private Push for Child Wealth
Speaking at an event promoting the initiative, Secretary Bessent outlined the administration's strategy to create a nationwide public-private partnership. The goal is to boost long-term wealth creation for American families. Bessent stated that Ray Dalio will help fund the accounts for eligible children in the state of Connecticut.
The administration is actively working to line up private donors for every US state to supplement the federal backing. Bessent described this coordinated effort as crucial for the program's success and geographic reach.
What Are Trump Accounts?
Trump Accounts are government-backed, tax-advantaged investment accounts designed for American children. The program targets children born between 2025 and 2028. Each eligible child would receive an initial $1,000 seed deposit directly from the federal government.
Families can then make additional voluntary contributions to the account. The funds are intended to be invested in US companies, allowing the savings to grow over a long period. The money can be accessed once the child turns 18 and can be used for key life goals such as:
- Higher education expenses
- Purchasing a first home
- Continued investment for the future
State-Level Momentum Builds
The Treasury's push for state and private involvement is gaining traction. Bessent revealed that twenty other US states are currently considering adding their own funds to the Trump Accounts. This signals growing interest beyond the initial federal contribution and could significantly increase the capital available to young beneficiaries.
The program is positioned by the Treasury as a pro-family, long-term savings initiative. Its stated aims are to give children an early financial foundation and help narrow wealth gaps over time by providing a asset-building tool from birth.
A Growing Coalition of Support
Ray Dalio's endorsement adds considerable weight to the initiative's credibility. The administration is actively seeking more commitments from corporate leaders and philanthropists nationwide to ensure broad participation. This coalition of backers is seen as vital for launching and sustaining the program across all states.
The announcement follows the recent launch of a dedicated Trump Accounts website, which details the child investment plan for the public. With high-profile support now coming from both the finance and technology sectors, the proposed accounts are moving closer to becoming a reality for a future generation of Americans.
