An all-star lineup of celebrities, CEOs and other luminaries joined President Trump on Wednesday to promote so-called Trump Accounts, with some saying they’ll match the federal government’s one-time $1,000 contribution to savings accounts for children.
Rapper Nicki Minaj, “Shark Tank” and “Marty Supreme” star Kevin O’Leary, founder of Altimeter Capital and Invest America Brad Gerstner, Dell founder Michael Dell and actress Cheryl Hines, who is the wife of Health and Human Services Secretary Robert F. Kennedy Jr., were among the A-listers who pledged their support for the Trump Accounts.
Trump Accounts have become a key part of the president’s affordability message ahead of the November midterms. Democrats successfully campaigned on that message last year, forcing Mr. Trump to pivot to a greater focus on the high cost of living.
“We’re doing something much better than giving a handout,” Mr. Trump said at the event in Washington. “We’re giving them ownership of America’s future so that they can grow up, chart their own destiny and make our nation greater and stronger and better.”
The Trump Accounts were created as part of Mr. Trump’s One Big Beautiful Bill law. Under the program, the government will automatically seed an account with $1,000 for each child born between 2025 and 2028.
Ahead of the event Wednesday, JPMorgan Chase and Bank of America announced separately that they will match the $1,000 contribution for eligible employees, making them two of the largest corporations to take such action. Dell Technologies announced a matching program last year.
Ms. Minaj also said she is pledging hundreds of thousands of dollars for her fans’ newborns as part of the Trump program. She is expected to invest between $150,000 to $300,000 to help some of her fans set up the accounts.
The rap superstar effusively praised the president during her remarks.
“I will say that I am probably the president’s Number One fan and that’s not going to change,” Ms. Minaj said. “The hate or what people have to say, it does not affect me at all. It actually motivates me to support him more.”
Mr. O’Leary, who goes by the nickname “Mr. Wonderful,” also praised the accounts.
“We love policy, pro-business policy,” he said. “And these accounts are fantastic for independence and support.”
Mr. Trump clearly relished the celebrity praise, saying listening to them was “better than getting [Treasury Secretary] Scott Bessent up [on stage].”
BlackRock, BNY, Robinhood, So-Fai and Charles Schwab have made similar announcements of contributions.
“By matching this contribution, we’re making it easier for them to start saving early, invest wisely, and plan for their family’s financial future,” JPMorganChase CEO Jamie Dimon said in a statement.
The Trump administration is expected to set up the accounts next summer, though many details still need to be worked out. There is no system in place to register; it is unclear where the accounts will be held.
It is also unclear how it will be funded. The federal government’s contribution of $1,000 to each account will cost taxpayers roughly $3.6 billion a year, based on the 3.6 million U.S. births in 2024. The birth rate was a 1% increase from 2023, according to data by the Centers for Disease Control and Prevention.
Mr. Trump has said the money will come from initiatives in One Big Beautiful Bill, including a 3.5% remittance tax on money sent abroad.
There are no income requirements for the one-time $1,000 federal contribution, and everyone is eligible for the money as long as the child is a U.S. citizen.
