(NEW YORK) -- In a major philanthropic move, billionaires Michael and Susan Dell are donating $6.25 billion dollars to deposit $250 into savings accounts for up to 25 million American children.
The announcement from the Dells, which was confirmed by a White House official, gives the funds to Invest America, which sets up a tax-advantaged investment account for American children starting at birth.
The so-called Trump Accounts are a key piece of President Trump's signature tax and spending legislation, which passed earlier this year.
There are still logistical questions about the donations, but the website for Invest America says sign-ups for the accounts are expected to open July 4, 2026.
"We've seen what happens when a child gets even a small financial head start – their world expands," Michael Dell said in a video announcing the news.
In June, Michael Dell attended a roundtable at the White House and spoke alongside Trump about how access to the savings accounts for American children will be a "simple yet powerful way to transform lives."