Trump pitches 'Trump Accounts' to CEOs to fund newborn investment plan

US President Donald Trump hosted top CEOs including Michael Dell and Dara Khosrowshahi to promote his $1,000 baby account initiative, part of the 'One Big Beautiful Bill'

US President Donald Trump hosted a roundtable with a group of leading CEOs on Monday at the White House to promote his flagship investment initiative for American newborns. The scheme, titled the ‘Trump Account’, proposes a $1,000 government-backed deposit for every US-born child and is part of Trump’s sweeping legislative proposal, the ‘One Big Beautiful Bill’.

 

Although the bill has cleared the House of Commons, it faces significant hurdles in the Senate, particularly after high-profile criticism from Tesla owner Elon Musk, who until recently was a key advisor to Trump.

 

CEOs voice cautious support

 

The roundtable was attended by more than half a dozen prominent corporate leaders, including Michael Dell, founder and CEO of Dell Technologies; Dara Khosrowshahi, CEO of Uber; David Solomon, chairman and CEO of Goldman Sachs; and Vladimir Tenev, co-founder and CEO of Robinhood.

 

 

While none of the attendees committed specific funding amounts, Dell announced that his company would match the government’s $1,000 contribution for children of its employees.

 

Describing the move as “a simple yet powerful way to transform lives,” Dell told Business Insider, “The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families.”

 

Goldman Sachs CEO David Solomon echoed the sentiment, saying, “Our economy’s future vitality is dependent on young people understanding the power of investing for the long term.”

 

Uber’s Dara Khosrowshahi added that the initiative could act as a launchpad for future generations. “It puts the unstoppable engine of compounding to work for our kids, building a future for them from day one.”

 

What is the ‘Trump Account’?

 

Formerly referred to as 'Money Accounts for Growth and Advancement' or 'MAGA Accounts', the ‘Trump Account’ is central to the broader ‘One Big Beautiful Bill’ spending plan. It proposes a $1,000 deposit for every child born in the US between January 1, 2025 and December 31, 2028.

 

Parents, religious institutions, and private donors will be allowed to contribute up to $5,000 annually to these accounts. Half of the funds can be withdrawn when the child turns 18, with full access available at age 30.

 

Withdrawals are restricted to specific expenditures, such as education, down payments on homes, or small business investments. Unapproved uses would trigger financial penalties.

 

Calling it “a pro-family initiative”, Trump said the programme is designed to “help millions of Americans harness the strength of our economy to lift up the next generation”.

 

Political and legislative hurdles

 

Despite the enthusiastic reception from some business leaders, the bill’s progress has been anything but smooth. Its passage in the House was marred by partisan disagreement, and the proposal now faces tough scrutiny in the Senate. Elon Musk’s public disapproval of the initiative as “economic fantasy” has also added pressure to the administration’s efforts to gain wider industry and political support.

 

Nonetheless, the Trump administration is betting on private sector buy-in to bolster the credibility and feasibility of the plan, portraying the investment accounts as a tool for financial literacy and long-term economic empowerment.

 

Further meetings with industry stakeholders are expected in the coming weeks as the White House pushes for broader consensus.