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Over half a dozen chief executives of Dell Technologies (NYSE:DELL), Robinhood Markets (NASDAQ:HOOD), Goldman Sachs (NYSE:GS), among others, are said to convene at the White House on Monday to unveil a multi-billion dollar initiative to create so-called Trump accounts for newborn Americans.
The pilot program, passed by the House last month as part of U.S. President Donald Trump’s budget bill — which is still pending before the Senate, would give a $1,000 government-funded index fund account to American children born between Jan. 1, 2025, and Dec. 31, 2028, CNBC reported, citing a White House spokesperson.
Trump’s roundtable event is expected to start at 2:00 p.m. ET, joined by Dell (NYSE:DELL) CEO Michael Dell, Altimeter Capital founder and CEO Brad Gerstner, Arm Holdings (NASDAQ:ARM) CEO Rene Haas, Salesforce (NYSE:CRM) Co-founder Parker Harris ServiceNow (NYSE:NOW) CEO William McDermott, Uber (NYSE:UBER) CEO Dara Khosrowshahi, Goldman (NYSE:GS) Chairman and CEO David Solomon and Robinhood (NASDAQ:HOOD) Co-founder and CEO Vladimir Tenev.
The Treasury Department will provide initial funding for tax-deferred accounts tied to the overall stock market, which guardians can manage and add up to $5,000 annually, the article said. The funds become accessible once the child reaches 18 years old.
The White House did not immediately respond to Seeking Alpha’s request for comment.
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