The CEOs of prominent companies such as Uber, Dell, Goldman Sachs, and more are set to unveil a significant financial commitment on Monday. This announcement, confirmed by a White House official to CNBC, will see these corporate leaders collectively invest billions into what are being termed Trump accounts for the children of their employees. The event will take place during a roundtable hosted by President Donald Trump, which aims to promote the innovative pilot program designed to support American families.
This new initiative, which was previously known as the Money Accounts for Growth and Advancement (MAGA Accounts), will allocate $1,000 from the government into investment accounts for every newborn American. The program is designed to provide a financial foundation for future generations, ensuring they have resources available as they reach adulthood. NBC News was among the first to report the details of the roundtable event, which highlights the growing collaboration between the government and the private sector.
Among the corporate leaders expected to attend the Invest America roundtable are:
Michael Dell, Founder and CEO of Dell Technologies Brad Gerstner, Founder and CEO of Altimeter Capital Rene Haas, CEO of Arm Holdings Parker Harris, CTO of Slack and Co-Founder of Salesforce William McDermott, CEO of ServiceNow Dara Khosrowshahi, CEO of Uber David Solomon, Chairman and CEO of Goldman Sachs Vladimir Tenev, Co-Founder and CEO of RobinhoodThese leaders will join President Trump and key congressional figures, including House Speaker Mike Johnson and House Ways and Means Committee Chairman Jason Smith, to discuss the implications of the proposed program.
The legislative framework for the Trump accounts was included in a massive budget bill that passed the House last month. This bill is currently awaiting a vote in the Senate, where it is facing resistance from some fiscally conservative Republicans who are calling for substantial amendments. The funding for these accounts will be managed by the Treasury Department, with the intention of providing a tax-deferred investment opportunity for U.S. citizens born between January 1, 2025, and December 31, 2028.
These accounts will not only receive the initial $1,000 contribution but also allow for additional contributions of up to $5,000 per year, enabling families to build a substantial financial resource over time. Funds within these accounts can be accessed when the beneficiary turns 18, offering them a significant head start in their financial journey.
According to White House Press Secretary Karoline Leavitt, the passage of the One Big Beautiful Bill will be transformative for working and middle-class families across America. The initiative is part of a broader effort to deliver the largest tax cuts in history, enhance the child tax credit, and establish the Trump Account program. "This will put the lives of young Americans on the right financial path," Leavitt stated in her remarks to CNBC.
However, some financial advisors have expressed skepticism about the investment incentives provided by the Trump accounts, suggesting that existing savings options, like 529 college savings plans, may offer better benefits in terms of contribution limits and investment growth.
This story is still developing, and readers are encouraged to check back for further updates as more information becomes available. Reporting contributed by CNBC's Megan Cassella and Jessica Dickler, alongside NBC News' Garrett Haake.
