WASHINGTON, Dec 17 (Reuters) – Billionaire investor Ray Dalio will help fund the Trump administration’s investment accounts for certain children in Connecticut Treasury Secretary Scott Bessent said on Wednesday as another firm vowed to match employee contributions.
Dalio’s commitment is part of an effort to secure additional outside donors in every U.S. state. Twenty other U.S. states are considering adding state funds to the federally-seeded accounts, Bessent said at an event on the program for children born between 2025 and 2028.
The initiative was created this year under President Donald Trump’s One Big Beautiful Bill Act and has sparked a scramble by financial firms looking to participate. The U.S. Treasury will deposit $1,000 into investment accounts for all children born between 2025 and 2028.
Separately, investment firm BlackRock on Wednesday became the latest company to say they would match the U.S. government’s $1,000 contribution for its employees.
Charter Communications, BNY, Block, Uber, Visa and Mastercard are also supporting the accounts, according to the administration.
Entrepreneur Michael Dell and his wife, Susan, have also said they would donate another $250 in the accounts of 25 million American children in a $6.25 billion philanthropic pledge backing the initiative.
Dalio, in a post on X, said he would donate about $75 million to match the Dells’ $250 contribution for about 300,000 children in Connecticut, adding: “We are hopeful other philanthropists and leaders will join this effort by contributing to similar initiatives in their home states.”
The Invest America accounts are expected to open on July 4, 2026, but details about how they will work are still unknown. It’s also unclear how they could help boost savings for lower-income Americans.
The funds—required to be invested in an index fund that mirrors the performance of the broader stock market—become available at the age of 18 for education, job training, a first home or starting a business.
Internal Revenue Service Chief Executive Officer Frank Bisignano said more details about the accounts are expected soon.
(Reporting by Dan Burns and Susan Heavey; Editing by Doina Chiacu and Nick Zieminski)
