ByKelly Phillips Erb,
Forbes Staff.
Earlier this month, Michael and Susan Dell made one of the largest philanthropic commitments in modern U.S. history, pledging $6.25 billion to support “Trump Accounts” –those new accounts for children created by the One Big Beautiful Bill Act (OBBBA). As part of that law, Congress committed to seeding accounts for babies born between 2025 and 2028 with an initial $1,000 deposit. The Dells’ billions will seed with $250 each the accounts of roughly 25 million children under age 10, who were born before 2025, and thus aren’t eligible for the $1,000. If not enough families of children under 10 open the accounts, any money that remains of the $6.25 billion could go to older children, according to a statement the couple posted online. To be eligible, children must live in zip codes where the median household income is below $150,000.
The gift raised some questions, especially given the size, scope, and intended purpose—it really hasn’t been done before. Here’s a quick look at what you need to know about the gift, how charitable donations work, and whether taxpayers can receive a benefit from writing a check to Uncle Sam.
Michael Dell is the founder and CEO of Dell Technologies, one of the world’s major computer and technology companies—he started the business in his college dorm room and built it into a global corporation. He has an estimated net worth of $148.9 billion, making him currently the ninth richest person in the world, according to Forbes’ real time tracking of billionaires. His wife, Susan, is a philanthropist and a driving force behind the couple’s charitable work. Together, they’ve become prominent figures in both tech and philanthropy, especially in initiatives focused on children and economic opportunity.
