President Donald Trump encouraged business leaders to add to the thousand dollars that his Administration will give every American child born between 2025 and 2028 in new “Trump Accounts” later this year. At an enthusiastic event in Washington, D.C., the President joined a group of celebrities, CEOs, and members of the Administration to build support for the accounts, a modernized type of baby bond that can be invested more broadly. “Even those who truly dislike me are making this investment,” said the President.

Under the new initiative, which was part of the Big Beautiful Bill, each newborn American will be given what the President termed a “lovely nest egg” of $1,000 as initial funding for an account that will be invested in the S&P 500. No money can be withdrawn from the account until the account-holder reaches 18. The hope is that as the American economy grows, the funds will grow along with it—and that other parties will also contribute some money. “Children and young people’s experience is of the power of compound debt rather than the power of compound interest,” said Idaho governor Brad Little during the event. “You have to reverse that.”

So far, several business executives have responded to the President’s request to contribute their own funds to the effort, most notably Michael and Susan Dell, who have pledged a staggering $6.25 billion to cover 25 million children who are too old to qualify for the federal contributions. Once the accounts become effective on July 5, 2026, the Dells will provide every child from 2 to 10 years old whose guardians activate a Trump Account for them with a $250 deposit, to mark America’s 250th birthday.

“Our studies showed that when a child has an account like this, they are much more likely to graduate from high school, go to college and graduate, buy a home, not be incarcerated, be a contributing member of society, and it improves the mental health of both the child and the parent, even with a relatively small amount,” said Michael Dell at the event. “That’s why we wanted to be a big part of this.”

Other wealthy individuals who have made commitments include Ray and Barbara Dalio, who have pledged $75 million for more than 300,00 children in Connecticut. Brad Gerstner, the founder and CEO of Silicon Valley-based Altimeter Capital who has been one of the driving forces behind this initiative, has offered to contribute to children’s funds in Indiana. (Gerstner also said he tried to present this idea to the Biden Administration but didn’t get any interest.)

It’s not just philanthropists. “Donations from employers are crucial to bringing the President’s vision to fruition,” said Treasury Secretary Scott Bessent. His department has issued a “50 State Challenge” to get corporations, philanthropists, and states to match or increase the funds for their local areas. During the event, Visa announced it would include deposits to Trump Accounts as part of its standard employee benefits and work with banks to figure out a way to donate Visa points. IBM, Broadcom, SoFI, JPMorgan, and Bank of America were among the firms that announced similar benefits.

The mood at the event was jubilant, even as the crowd thinned. Well-known people got up to promote the accounts, not just because of the wealth they could generate, but as a cure for many of America’s problems. Speaker after speaker emphasized the potential for greater financial literacy and for finally closing the wealth gap. “Every child born in America becomes a shareholder in America,” said Gerstner, and thus may feel more invested in the country’s well-being. “I could just tell that this is something I wish I had access to as a kid and as a teenager growing up,” said Nicki Minaj. A group of moms, including Cheryl Hines and Karoline Leavitt speculated on how much it would assist in child-rearing, with one speaker suggesting it might increase marriage or fertility rates. “I can’t find anyone, red or blue, who doesn’t like this idea,” said investor and Shark Tank regular Kevin O’Leary.

Only one person at the event mentioned anything about Minnesota, where Trump’s aggressive immigration policies have not received as warm a welcome as this initiative has. Lorenzo Sewell, the senior pastor at 180 church in Detroit, prayed generally for the people of Minneapolis at the start of the event. From then on, it was all good news.

“Trump accounts are among the most significant policy innovations in modern times,” said Bessent. “They mark a unique moment in economic history by extending the benefits of private ownership and compound growth to all Americans today.” After the gathering—at which Trump spoke for 45 minutes, most of it off the cuff, and not exactly on topic—a Treasury official thanked his staff by saying, “It’s been a long time since I’ve seen the President have that much fun.”