U.S. President Donald Trump announced Wednesday the automatic enrollment of all American children under 18 in “Trump Accounts,” an investment and savings initiative for minors bearing his name. The announcement follows a rapid initial rollout launched in July, during which nearly eight million accounts were opened within just three months. With Wednesday’s expansion, the federal program broadens significantly to encompass approximately 70 million children across the United States.
President Trump noted that since the program’s official launch on July 4, more than $4.5 billion has been deposited into Trump Accounts, underscoring the initiative’s financial scale. During the announcement held in the Oval Office, several children were in attendance, to whom Trump handed challenge coins, remarking: “You are so beautiful. Stay right there. The press can admire you. That’s how they used to look.”
The administration clarified that automatic enrollment alone does not automatically grant the $1,000 federal baseline seed deposit, nor does it immediately confer account management access to parents. To manage the account, enable family contributions, and unlock the one-time $1,000 federal deposit—available for children born during Trump’s second presidential term—a parent or legal guardian must formally claim the account through a designated application. Until an account is officially claimed, Bank of New York Mellon will serve as the legal trustee.
While nearly eight million accounts were established during the initial phase, that figure represented only about 10 percent of all eligible American minors. With the current universal expansion, the program aims to ensure full coverage for the nation’s youth. Underscoring the policy’s significance, President Trump concluded: “Some say this is one of the most important things I will ever do.”