The chief executives of major corporations including Uber, Dell, and Goldman Sachs are poised to unveil a plan on Monday to collectively inject billions of dollars into “Trump accounts” for their employees’ children, as confirmed by a White House spokesperson to Finance Newso.
This initiative will be discussed during a roundtable event hosted by President Donald Trump, aimed at promoting a pilot program that allocates $1,000 to investment accounts for every newborn in the U.S. The details of this gathering were first highlighted by NBC News.
More than seven corporate leaders are expected to attend the “Invest America” session at the White House, scheduled for 2 p.m. ET, according to the official. Confirmed attendees include:
- Michael Dell, founder and CEO of Dell Technologies
- Brad Gerstner, founder and CEO of Altimeter Capital
- Rene Haas, CEO of Arm Holdings
- Parker Harris, CTO of Slack and co-founder of Salesforce
- William McDermott, CEO of ServiceNow
- Dara Khosrowshahi, CEO of Uber
- David Solomon, chairman and CEO of Goldman Sachs
- Vladimir Tenev, co-founder and CEO of Robinhood
This initiative to establish the accounts successfully passed through the House last month, included in a sweeping budget bill that President Trump is urging Republicans to present to him before the Fourth of July. The proposal is currently under review in the Senate, where it is encountering resistance from some fiscal conservatives seeking significant revisions.
The program, initially branded as “Money Accounts for Growth and Advancement” or “MAGA Accounts,” aims to provide index fund accounts seeded with $1,000 in government-provided funds for U.S. citizens born between January 1, 2025, and December 31, 2028.
These tax-deferred accounts, which mirror the overall U.S. stock market performance, will allow additional contributions of up to $5,000 annually. The initial funding will be managed by the Treasury Department and controlled by the child’s guardians until the beneficiary reaches adulthood.
This plan resembles existing savings options, such as 529 college savings plans, which feature higher contribution limits. Financial experts have indicated that some of the proposed “Trump accounts” may not yield optimum investment benefits.
White House press secretary Karoline Leavitt stated to Finance Newso, “The passage of the One Big Beautiful Bill will literally change the lives of working, middle-class families across America by delivering the largest tax cuts in history, increasing the child tax credit, and creating this incredible new ‘Trump Account’ program, which will set young Americans on the path to financial success.”
This story is developing. Please check back for further updates.
— This report includes contributions from Finance Newso’s Megan Cassella and Jessica Dickler as well as NBC News’ Garrett Haake.
