Bessent Prepares for Significant Announcements on ‘Trump Accounts’ Launch

Treasury Secretary Scott Bessent announced that “big announcements” are on the horizon ahead of Wednesday’s White House summit focused on the “Trump Accounts.”

The proposed program aims to provide $1,000 in federally funded investment accounts to every U.S. citizen born between 2025 and 2028. This initiative has the potential for substantial growth over time. Bessent indicated that additional states and philanthropists will be revealed during the event.

“We’re [going to] have some big announcements today on some very important states from some great philanthropists who have adopted their states,” Bessent stated during his appearance on “Fox & Friends” Wednesday.

BESSENT SAYS TRUMP TAX CUTS COULD MEAN ‘SUBSTANTIAL REFUNDS’ FOR WORKING AMERICANS IN 2026

Secretary of the Treasury Scott Bessent, left, and Trinidadian rapper and singer-songwriter Nicki Minaj listen as President Donald Trump delivers remarks on “Trump Accounts” in Washington, DC, on Jan. 28. (Brendan Smialowski/AFP via Getty Images / Getty Images)

Bessent revealed that 500,000 families have already signed up for the program, with approximately 25 million eligible citizens nationwide.

Major financial institutions like JPMorgan Chase and Bank of America have committed to matching the U.S. government’s contribution to these new retirement accounts for eligible employees.

In a notable gesture, rapper Nicki Minaj plans to contribute up to $300,000 to support Trump Accounts for her fans. She expressed her enthusiasm on X, stating, “Early financial literacy & financial support for our children will give them a major head start in life,” adding that the program makes her “very happy.”

Bessent emphasized that bipartisan support for the accounts reflects the strength of President Trump and the coalition he has built.

Among the first significant contributors is Dell Technologies CEO Michael Dell, who, along with his wife, Susan Dell, is donating $6.25 billion to the initiative.

TRUMP CONSIDERS CAPPING STATE GAS TAX, SIGNALS POSSIBLE RELIEF FOR CALIFORNIANS

The White House announced that the Dell contribution will provide a $250 deposit to 25 million children ages 10 and under, who were born before 2025 and live in areas with median household incomes below $150,000.

Treasury Secretary Scott Bessent speaks during the Trump Accounts Launch Summit in Washington, DC, on Jan. 28. (Getty Images)

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Bessent clarified that citizens will not be able to access these accounts until they turn 18. At that point, the funds could be utilized for significant life expenses such as a first car, home, or college education. Additionally, the money can be rolled into a retirement account to supplement Social Security.

The “Trump Accounts” website indicates that the program is set to launch on July 5, aiming to provide children with a “huge head start on the American dream.”

Treasury Secretary Scott Bessent announced that “big announcements” are on the horizon ahead of Wednesday’s White House summit focused on the “Trump Accounts.”

The proposed program aims to provide $1,000 in federally funded investment accounts to every U.S. citizen born between 2025 and 2028. This initiative has the potential for substantial growth over time. Bessent indicated that additional states and philanthropists will be revealed during the event.

“We’re [going to] have some big announcements today on some very important states from some great philanthropists who have adopted their states,” Bessent stated during his appearance on “Fox & Friends” Wednesday.

BESSENT SAYS TRUMP TAX CUTS COULD MEAN ‘SUBSTANTIAL REFUNDS’ FOR WORKING AMERICANS IN 2026

Secretary of the Treasury Scott Bessent, left, and Trinidadian rapper and singer-songwriter Nicki Minaj listen as President Donald Trump delivers remarks on “Trump Accounts” in Washington, DC, on Jan. 28. (Brendan Smialowski/AFP via Getty Images / Getty Images)

Bessent revealed that 500,000 families have already signed up for the program, with approximately 25 million eligible citizens nationwide.

Major financial institutions like JPMorgan Chase and Bank of America have committed to matching the U.S. government’s contribution to these new retirement accounts for eligible employees.

In a notable gesture, rapper Nicki Minaj plans to contribute up to $300,000 to support Trump Accounts for her fans. She expressed her enthusiasm on X, stating, “Early financial literacy & financial support for our children will give them a major head start in life,” adding that the program makes her “very happy.”

Bessent emphasized that bipartisan support for the accounts reflects the strength of President Trump and the coalition he has built.

Among the first significant contributors is Dell Technologies CEO Michael Dell, who, along with his wife, Susan Dell, is donating $6.25 billion to the initiative.

TRUMP CONSIDERS CAPPING STATE GAS TAX, SIGNALS POSSIBLE RELIEF FOR CALIFORNIANS

The White House announced that the Dell contribution will provide a $250 deposit to 25 million children ages 10 and under, who were born before 2025 and live in areas with median household incomes below $150,000.

Treasury Secretary Scott Bessent speaks during the Trump Accounts Launch Summit in Washington, DC, on Jan. 28. (Getty Images)

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Bessent clarified that citizens will not be able to access these accounts until they turn 18. At that point, the funds could be utilized for significant life expenses such as a first car, home, or college education. Additionally, the money can be rolled into a retirement account to supplement Social Security.

The “Trump Accounts” website indicates that the program is set to launch on July 5, aiming to provide children with a “huge head start on the American dream.”