Trump Hails $6B Dell Gift to Boost Accounts for Children скачать в хорошем качестве

Trump Hails $6B Dell Gift to Boost Accounts for Children

Donald Trump hailed a gift from Michael and Susan Dell to jumpstart investment accounts for American children, expanding a signature initiative from the president’s tax law that has drawn support from corporate and financial leaders. The program will give “middle-class families a stake in American prosperity, a benefit from the rising stock market, and a better shot at the American Dream,” Trump said at a White House event to tout the donation, where he was joined by the founder and chief executive officer of Dell Technologies Inc. and his wife. “This is truly one of the most generous acts in the history of our country.” The $6.25 billion philanthropic gift from the Dells will give 25 million children $250 each for an investment account, expanding on the Invest America initiative created earlier this year. Under that program, dubbed “Trump accounts,” the government will offer $1,000 for each child born between 2025 and 2028.  Andrew Carnegie put up 2,500 libraries. The Rockefellers eliminated diseases and founded a panoply of museums, universities and national parks. Michael Dell is spreading the wealth in a different way, $250 at a time.  The founder of Dell Technologies Inc. and his wife, Susan, announced Tuesday they’re donating $6.25 billion to help fund “Trump accounts,” an idea enshrined into law by President Donald Trump and Republican legislators earlier this year. Some 25 million accounts for children 10 and under would be seeded with $250 each, money administered by the US Treasury Department that would be invested on the kids’ behalf. It’s one of the largest gifts in US history — and a significant departure from ways that previous billionaires have given their fortunes away. At a time when wealth inequality is at a record, the Dells are choosing to sidestep traditional giving vehicles and send money to individual recipients. “It reflects a lack of enthusiasm for traditional philanthropy,” said Benjamin Soskis, senior research associate at the Urban Institute’s Center for Nonprofits and Philanthropy. “This is a way to bypass the nonprofit sector.” Donating to the government is unusual, although philanthropists have funded the construction of schools, hospitals and other public institutions for centuries. More recently, billionaire heir Timothy Mellon offered $130 million to help pay troops during the recent government shutdown, according to the New York Times. In the second Trump administration, many of the country’s richest people have lined up behind the billionaire president and his policies. Billionaires including Jeff Bezos, Sergey Brin and Mark Zuckerberg attended his inauguration. Elon Musk, the world’s wealthiest person, famously served as one of Trump’s top advisers. Larry Ellison, the third-richest, is a prominent supporter. “I LOVE DELL!!!” Trump said in a post on Truth Social Tuesday. At a White House event, he called the gift “truly one of the most generous acts in the history of our country,” adding that the program will give “middle-class families a stake in American prosperity, a benefit from the rising stock market, and a better shot at the American Dream.” The political climate has also reshaped how wealthy donors give. With major foundations and universities facing waves of conservative criticism, many philanthropists have begun rethinking their strategies. Zuckerberg, for instance, tilted his family’s philanthropy, the Chan Zuckerberg Initiative, toward scientific research and away from education, housing and other advocacy work. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake