Business & Finance
Dell Foundation begins distributing $250 grants to eligible Trump Account holders
Funds from a $6.25 billion philanthropic commitment by Michael and Susan Dell are targeting millions of children born between 2016 and 2024.
The short version
- The Dell Foundation announced that $250 grants began rolling out on Monday to eligible children with Trump Accounts.
- The grants target lower-income families living in ZIP codes with a median income of $150,000 or less who were born between 2016 and 2024.
- Michael and Susan Dell pledged $6.25 billion to fund the initiative, which could eventually reach up to 25 million children.
Key facts
- The Dell Foundation confirmed that $250 grants would begin automatically depositing into eligible Trump Accounts starting August 31.[CNBC]
- Michael and Susan Dell pledged $6.25 billion to provide funds for children born between 2016 and 2024 who do not qualify for federal pilot money.[CNBC]
- Eligibility for the $250 grant requires families to reside in ZIP codes with a median income of $150,000 or less.[CNBC]
- Federal Treasury Department data shows roughly 7 million children have been enrolled in Trump Accounts to date.[CNBC]
- Trump Accounts, known as 530A accounts, offer a $1,000 federal pilot deposit for children born between 2025 and 2028, while open to all U.S. children under 18 with a Social Security number.[CNBC]
What remains uncertain
- The exact timeline for completing nationwide distribution of the grants to all eligible accounts remains unspecified.[CNBC]