Note: Single-source report; awaiting corroboration.
President Donald J. Trump rang the opening bells of both the New York Stock Exchange and NASDAQ from the Oval Office to mark the official launch of Trump Accounts, a program under his Working Families Tax Cuts Act aimed at creating opportunities for every American child to build generational wealth through stock market investments.
According to the event statement, the program is expected to invest $800 million in new capital into the stock market for America's children during the initial week. President Trump stated that the accounts will grow alongside the economy, offering a stake in the nation's wealth.
Secretary of the Treasury Scott Bessent emphasized the goal of equipping the next generation with the right to share in the American Dream through an ownership economy. He noted that 38% of American families have no exposure to equity markets and aims for the Trump Accounts to reduce that number to zero over time.
Business leaders expressed support for the initiative, with Michael Dell noting that each newborn American child will begin life with a $1,000 investment in leading companies. NASDAQ CEO Adena Friedman and NYSE Group President Lynn Martin highlighted the significance of extending market participation to every American, emphasizing freedom and opportunity as central themes.
Intercontinental Exchange CEO Jeffrey Sprecher recalled the NYSE's historical mission to finance a new government and vision, welcoming the broader availability of stock market ownership to all Americans. Altimeter Capital CEO Brad Gerstner expressed commitment to ensuring all 70 million children under 18 receive accounts.