Dalio Seeds Trump Accounts in Connecticut, Starting State-by-State Challenge -- WSJ

Dow Jones00:34

By Richard Rubin and Brian Schwartz

Investor Ray Dalio said he and his wife, Barbara, will donate $250 to each of the new "Trump accounts" of about 300,000 children across his home state of Connecticut. The money will go to children under age 10 who live in zip codes with median incomes under $150,000, the Dalios said in a statement on their philanthropic website.

Treasury Secretary Scott Bessent described Dalio's donation as the first in a 50-state challenge to wealthy Americans to put money into accounts for the broader population. Michael and Susan Dell announced a similar nationwide gift earlier this month.

Congress created Trump accounts in the "one big, beautiful bill" that President Trump signed July 4. Babies born from 2025 through 2028 will get $1,000 each in their accounts, which get invested in equity funds and effectively become individual retirement accounts when the children turn 18. Parents, employers and philanthropists can also put money into the accounts, which are available to minors beyond the people who get the $1,000 from the government.

"At an early age, I was exposed to the stock market, and it changed my life," Dalio, founder of hedge fund Bridgewater Associates, said in the statement. "By providing children with savings accounts that compound over time, we are providing them with early insights into financial literacy and a path towards financial independence."

The accounts open next year, and require parents to fill out a tax form - Form 4547 - to create them. The Trump administration is pitching them as a transformative and innovative policy.

"An entire generation of Americans is about to learn, in the most life-changing way possible, how even small contributions can become generational wealth," Treasury Secretary Scott Bessent said at an event on Wednesday.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 17, 2025 11:34 ET (16:34 GMT)

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Dalio Seeds Trump Accounts in Connecticut, Starting State-by-State Challenge -- WSJ

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