[ad_1]
The White House is ready to usher in a new generation of boss babies — and it’s enlisting the help of some of America’s most prominent executives.
A small crowd of CEOs joined President Donald Trump at the White House for a roundtable on Monday to promote his plan to deposit $1,000 in investment accounts for newborn babies. The program is part of the president’s signature — and controversial — spending bill, which has passed the House but faces headwinds in the Senate after getting publicly bashed by Elon Musk.
The CEOs who attended the roundtable included Dell Technologies CEO Michael Dell, Uber CEO Dara Khosrowshahi, and Goldman Sachs CEO David Solomon.
A White House official confirmed to Business Insider ahead of the event that under the program, the executives would announce plans to invest billions of dollars worth of collective investments into Trump Accounts for their employees’ future children.
With the exception of Dell, it was not immediately clear how much each company plans to invest if the initiative becomes law, and the companies did not specify when contacted by BI.
Dell said in a statement provided to BI that the company would match the government’s $1,000 investment for the children of its employees.
“The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families,” the CEO said.
Other corporate leaders who attended the event on Monday afternoon included Robinhood CEO Vladimir Tenev, Salesforce cofounder Parker Harris, Altimeter Capital CEO Brad Gerstner, Arm Holdings CEO Rene Haas, and ServiceNow CEO William McDermott.
“This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation, and they’ll really be getting a big jump on life,” Trump said during his prepared remarks at the start of the roundtable.
Trump Accounts would be available to every American citizen born from January 1, 2025, and December 31, 2028, according to the bill.
Under the program, if the bill in its current form passes and is signed into law, the federal government would invest $1,000 into an index fund that tracks the stock market. The child’s guardians will control the account. Guardians could deposit up to $5,000 a year into the account, which the child could access once they’re 18.
In a statement to BI, White House press secretary Karoline Leavitt said that passing the president’s spending bill, called the “One Big Beautiful Bill,” and the associated Trump Accounts “will put the lives of young Americans on the right financial path!”
BI reached out to the companies of the CEOs who attended the roundtable.
In their remarks at the event and statements provided to BI, the CEOs emphasized that the investment accounts would set the next generation up for success by giving them a financial head-start.
“Our economy’s future vitality is dependent on young people understanding the power of investing for the long term,” Solomon, CEO of Goldman Sachs, said during the roundtable.
“The American stock market is among the greatest wealth creation engines of our time,” Tenev, the Robinhood CEO, said in a statement. “Speaking personally, as an immigrant to this country, I’ve seen firsthand the vast opportunities afforded by our financial system.”
A representative for ServiceNow said in a statement: “This is more than policy — it’s about unlocking a future where more Americans can own, build, and thrive.”
Monday afternoon’s investments are another example of the Trump administration’s close ties to the private sector.
The administration has also secured hundreds of millions of dollars in pro bono work from major law firms for causes the administration supports.
[ad_2]
Source link
