- Tech giant Dell is planning to put a $1,000 in its employees' children's Trump Accounts.
- CEO Michael Dell said this week that such donations will become a standard corporate benefit.
- Dell is closely linked to the program as his family foundation has donated $6.25 billion.
Dell is joining the list of companies paying into the Trump Accounts of its employees' children.
"We plan to provide a one-time $1,000 contribution for eligible children of our team members, in addition to any government seed contribution for which the child qualifies," a Dell company spokesperson told Business Insider.
The company is still working through the logistics and guidance from the US Treasury, the spokesperson added. Employees can apply for and contribute to their children's Trump Accounts and receive the government's one-time contribution in the meantime.
Trump Accounts, launched on July 4, are a new investment program designed to help children grow their wealth. If your baby is born between 2025 and 2028 and is an American citizen, the government will deposit $1,000 into the account.
Companies, including Goldman Sachs, Micron, and Chipotle, have also announced plans to match the government's $1,000 contribution for their employees.
On Wednesday, Michael Dell, the founder of Dell Technologies, told Fox News that he believes donations to Trump Accounts will become "a standard benefit" at many companies.
Dell is closely tied to the Trump Accounts scheme. His family foundation, which he leads with his wife, Susan, has donated $6.25 billion to the program, and he has made regular appearances alongside the president over the last year to promote the investment program.
The Dells' donation is set to land in Trump Accounts this week as a $250 contribution for eligible recipients. To qualify, recipients must be born between 2016 and 2024, and live in a ZIP code with a median family income of $115,000 or less, based on US Census data.
By the end of the week, 25 million accounts will have received the $250 lump sum, Dell told Fox News on Wednesday.
The Dell Foundation has long focused its philanthropic efforts on children, education, and economic opportunity, aligning with the mission of Trump Accounts.
"We did research in our foundation and found that, when a child has even a small amount, they're much more likely to have greater life outcomes," Dell told Fox News.
Being close to the president has also brought Dell's company some free publicity. On several occasions, Trump has told reporters to "go out and buy a Dell computer." In April, following one such endorsement, Dell's shares popped by as much as 9%.
Since the Dell Foundation announced its donation in December, the president has purchased more than $1 million in Dell stock. In April, he sold at least $50,000 worth of Dell shares and possibly as much as $100,000.
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