The Trump administration announced a major milestone for its new Trump Accounts program, reporting that roughly 1 million families have signed up after a high-profile White House event featuring rapper Nicki Minaj.
Treasury Secretary Scott Bessent shared the figures during a Cabinet meeting Thursday, highlighting a surge in enrollment following Wednesday's summit, which the administration said was designed to raise awareness about the initiative.
"We've now had a million people sign up for Trump Accounts just this week," Bessent told President Donald Trump, noting that an estimated 25 million families nationwide could be eligible for the program, FoxBusiness reported.
The summit brought together celebrities and political figures, including Minaj, Texas Senator Ted Cruz, and "Shark Tank" judge Kevin O'Leary, to promote what the administration calls a "signature family-focused policy."
Minaj celebrated the milestone on social media, emphasizing its impact on families and children. "This is the best news. Wow. God is good," she wrote on X. "So happy for the children this will help & the burdens that will be lifted from all the hard-working parents in this country."
Trump Accounts, part of the administration's tax legislation, are designed to give every eligible newborn $1,000, which is then invested in the stock market through private firms.
The funds will be accessible when the child turns 18 and can be used for education, starting a business, or buying a home.
Families, employers, and other contributors can add money to the accounts over time, with annual contribution limits in place.
🚨BREAKING:
— Xaviaer DuRousseau (@XAVIAERD) January 28, 2026
The most groundbreaking rapper of the 21st century, Nicki Minaj, has declared herself as President Donald Ja’Quan Trump’s NUMBER ONE SUPPORTER.
Yet another iconic moment added to her résumé as the most authentic, unapologetic and culture-shifting A-lister today! pic.twitter.com/Eivd54XUsb
Trump Accounts Open for Kids Born 2025–2028
The program applies to children born between January 1, 2025, and December 31, 2028, with the formal launch scheduled for July 5, 2026.
While the federal government provides the initial $1,000, several major companies—including Uber, Intel, IBM, Nvidia, and Steak 'n Shake—have pledged to contribute to Trump Accounts for their employees' children through what Treasury Secretary Bessent calls the "50 State Challenge."
According to AP News, billionaires have also contributed. Michael and Susan Dell donated $6.25 billion to provide $250 seed money for eligible children under 10, while Ray Dalio pledged $75 million for kids in Connecticut.
Investor Brad Gerstner committed to adding $250 per child under 5 in Indiana.
These contributions are meant to extend benefits to children who may not receive the full $1,000 from the federal program.
The Trump administration hopes the accounts will encourage early saving, financial literacy, and long-term investment habits.
"We're doing something much better than giving the next generation a handout," Trump said at the summit. "We're giving them ownership of America's future."
Join the Conversation