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Why #billionaires are giving millions to Trump Accounts. #Trump #investing #wealth #business
Why #billionaires are giving millions to Trump Accounts. #Trump #investing #wealth #business
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Phụ đề (40)
0:00
Some of the world's richest people want
0:02
to give American [music] kids free
0:03
money. It's part of this program called
0:05
Trump accounts, investment accounts for
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children which launched on July 4th.
0:10
Kids born between 2025 and 2028 are
0:13
eligible for a $1,000 contribution from
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the federal government. Parents can
0:18
contribute up to $5,000 a year and their
0:20
employers can contribute up to $2,500
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but some millionaires and billionaires
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including some notable Trump allies and
0:28
supporters are taking a step further.
0:31
Dell CEO Michael Dell and his wife Susan
0:34
have pledged $6.25 billion to the
0:37
accounts giving 25 million children $250
0:41
each. Hedge fund billionaire Ray Dalio
0:43
has pledged $75 million specifically to
0:47
accounts for kids in Connecticut. SpaceX
0:49
president Gwynne Shotwell said she and
0:51
her husband are donating SpaceX shares
0:54
to fund accounts for more than 2 million
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children in Texas. [music] And Nicki
0:57
Minaj, a notable Trump supporter, says
0:59
she's contributing, too. The money is
1:01
invested in funds that track major stock
1:03
indexes and it cannot be withdrawn until
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the child turns 18. At that point it can
1:08
be used for anything but it does follow
1:10
the same tax rules as a traditional IRA.
1:13
Trump allies say the goal of the program
1:15
is to get the next generation invested
1:17
in capitalism and building wealth. But
1:19
some critics including representative
1:21
Ayanna Pressley say the program could
1:23
worsen wealth inequality because
1:25
wealthier families are better positioned
1:27
to make their own contributions. Read
1:29
more about Trump accounts and who's
1:31
funding them at Business Insider.
