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Investing.com -- Dell Technologies (NYSE:DELL) stock rose 2% Tuesday after President Trump praised the Dell family following their massive philanthropic donation.
Michael and Susan Dell announced they will give $250 each to 25 million American children under 10 years old to jumpstart investment accounts for their futures. The $6.25 billion gift extends the "Invest America" initiative created earlier this year as part of President Trump’s One Big Beautiful Bill Act, which automatically seeds accounts with $1,000 for children born between 2025 and 2028.
The Dell donation will fund accounts for children who aren’t already eligible for the government program, targeting zip codes with median household incomes below $150,000. Michael Dell, 60, expects the initiative to reach approximately 80% of U.S. children in the targeted age range.
President Trump expressed his approval on social media, writing: "TWO GREAT PEOPLE. I LOVE DELL!!! President DJT"
The accounts established through this program allow families to make additional contributions over time, with funds growing through market returns. Account holders can access their funds at age 18 for education, job training, home ownership, or savings purposes.