Treasury Secretary Scott Bessent said on Wednesday that in the days since enrollment opened, more than 500,000 families have signed up to receive the administration’s new children’s investment accounts. He made the remark ahead of an event where singer Nicki Minaj is scheduled to speak alongside President Donald Trump.
The accounts were established earlier this year under the One Big Beautiful Bill Act. Under the program, the U.S. Treasury will place a $1,000 federal deposit into investment accounts for each child born between 2025 and 2028. Bessent said the program could reach roughly 25 million families who are estimated to be eligible.
Private philanthropy is intended to supplement the federal seed funds. Bessent noted that private investors would add to the program’s pool, citing Michael and Susan Dell’s $6.25 billion contribution as an example. He said more contributors would be announced later on Wednesday but did not provide specifics at the time.
"We’re going to have some big announcements today on some very important states from some great philanthropists who have adopted their states," Bessent said, declining to give additional details in his remarks.
The administration scheduled an event for 11 a.m. EST at which President Trump, Bessent and White House Press Secretary Karoline Leavitt are expected to speak. Bessent would not confirm whether Minaj would make any financial contribution to the accounts, but he did say she would address the audience.
A recent poll conducted by Exclusive Public First, cited in reporting by Politico, found public awareness of the initiative remains limited. According to that poll, 57% of respondents said they had never heard of a "Trump account," 25% said they had heard of it but could not explain it, and 14% said they had heard of it and could explain it.
Other philanthropists and private-sector backers have signaled support for the program. The article cited billionaire investor Ray Dalio, who in December announced he would help fund accounts for certain children in Connecticut. Several companies were also listed as having pledged support, including BlackRock, Charter Communications, BNY, Block, Uber, Visa and Mastercard.
Bessent described the accounts as a way to give more families access to potential stock market gains and compound interest over time. The initial federal deposit can be supplemented by relatives or other private contributors, and account funds can be used once the child turns 18 for purchases such as a car, a home, college expenses or to seed a retirement account.
Context and next steps: The administration is moving to secure additional outside donors in each U.S. state to expand the program’s reach, with further contributor announcements expected.