Dell family to deposit $250 into Trump kids' accounts

Tech billionaire Michael Dell and his wife, Susan, have announced plans to donate $250 million to support 250 million children across the United States.

The $6.25bn (£4.72bn) gift will bolster Trump-branded investment accounts, which were authorised by Congress as part of its tax and spending bill earlier this year with the aim of encouraging families save for retirement, News.Az reports citing BBC.

As part of that scheme, babies born between 2026 and 2028 are also eligible to receive $1,000 from the government.

The Dells said their gift, which targets children age 10 and under, was intended to help seed those accounts and expand the savings opportunity to even more children.

Unlike the government plan, the Dells said children age 10 and under, who were born before 1 January 2025 were eligible for their gift, provided they live in areas where the median income is below $150,000.

The Dells said they expected the gift to reach almost 80% of children age 10 and under in the US. It is among the largest ever private donations to go directly to Americans.

Dell, the chief executive of Dell Technologies with a fortune that Forbes estimates at almost $150bn, also urged other philanthropists and employers to make similar commitments.

"Two great people. I love Dell!!!" President Donald Trump wrote in all capital letters on social media in response to the announcement.