Dalio, BlackRock Join Donor List For ‘Trump Account’ Program

Bridgewater Associates founder Ray Dalio and BlackRock Inc. are joining a growing list of companies and wealthy individuals who are putting money into one of President Donald Trump’s signature programs.

Dalio said Wednesday his foundation will donate $250 each to roughly 300,000 “Trump Accounts” for children in Connecticut. BlackRock Inc. also announced it would match the federal government’s contributions to the accounts for employees’ children, seeding them with $1,000 each.

Treasury Secretary Scott Bessent unveiled a website on Wednesday detailing the Trump Accounts program, which also listed Block Inc., Mastercard Inc., Visa Inc., Uber Technologies Inc. and Charter Communications as companies providing “generous support.” The website didn’t detail the scope of the companies’ involvement.

Visa said in a social media post it plans to offer Trump accounts as part of its employee benefits package but didn’t give other details and Charter announced in July that it would match the federal government contribution to its employees accounts. Both Uber and Block confirmed through spokespeople that their companies would participate in the program, but didn’t give specifics. Mastercard declined to comment.

The surge of support from corporations and well-heeled donors demonstrates how companies and business leaders are eager to demonstrate public support for a program that Trump views as part of his presidential legacy.

Earlier this month at a White House event, Michael Dell and Susan Dell said they will give 25 million American children $250 each to jump start an investment account for their futures, a contribution totaling $6.25 billion. That money will go to the accounts of older children, not eligible for the $1,000 the federal government is making to babies born from 2025 through 2028. 

Bank of New York Mellon Corp. also rolled out its own plans this month, saying it would match the $1,000 contribution for eligible newborns of US employees.

The rollout of the new savings vehicle has generated great interest on Wall Street, as investors wait to see which financial services companies will become involved in hosting and managing the investment accounts. 

Bessent on Wednesday said they are seeking more donors from all 50 states to make contributions toward the tax-advantaged savings accounts, established under President Donald Trump’s multi-trillion dollar tax and spending package passed earlier this year.

Dalio’s net worth is $19.5 billion, according to the Bloomberg Billionaires Index. Recent filings show his foundation and another vehicle, the Dalio Family Fund, held combined assets of $5.7 billion at the beginning of the year, including more than $830 million added in 2024.

“My wife, Barbara, and I believe strongly in the importance of equal opportunity,” Dalio said in an Instagram post on Wednesday. “At an early age I was exposed to the stock market, and it changed my life.”

His past philanthropic priorities have included child welfare in China, ocean exploration and Connecticut-based education nonprofits.

Tax-Favored Accounts

The “Trump Accounts,” which the legislation named after the president, will be seeded with $1,000 for children born from Jan. 1, 2025 until Dec. 31, 2028.

The accounts have fewer tax advantages than similar savings vehicles, such as 529 plans, but allow parents to accept additional payments from employers, governments and philanthropists. 

The accounts must be invested in low-cost indexed funds tracking “primarily” US companies and are locked until the year a child turns 18. At that point, they’re rolled over to individual retirement accounts and subject to the usual penalties for early withdrawals with exceptions if funds are used to pay for certain expenses, such as education or first-time home purchases.

Parents cannot make contributions before July 4 next year. Annual contributions are limited to $5,000, though additional donations from nonprofits are exempt from the cap