President Donald Trump on Monday morning rang the opening bell of the stock market from the White House Oval Office in a first-of-its-kind joint ceremony with the New York Stock Exchange and the Nasdaq.
The event marking the launch of “Trump Accounts,” the administration’s new tax-advantaged investment vehicles for U.S. kids, was attended by an array of CEOs and other officials who are supporting the new accounts.
They include: Dell chief Michael Dell and his wife, Susan Dell, who together pledged to donate more than $6 billion to the program; Brad Gerstner, Altimeter Capital and CEO and founder of the Invest America charitable foundation, which pushed for the accounts; Intercontinental Exchange CEO Jeffrey Sprecher; Sen. Ted Cruz, R-Texas; Treasury Secretary Scott Bessent; U.S. Securities and Exchange Commission Chair Paul Atkins; and NYSE President Lynn Martin.
“This makes real the promise of the American dream, not for some but for everybody,” Gerstner, a major proponent of the accounts, told CNBC’s “Squawk Box” before the event.
The Trump Accounts, which are available for all children age 18 or younger, include a one-time $1,000 pilot program contribution from the U.S. Treasury Department for babies born from 2025 through 2028.
Robinhood CEO Vlad Tenev, arriving at the White House before the opening bell, called the accounts potentially “life changing.”
This is developing news. Please check back for updates.
