Ray Dalio is latest billionaire to donate to Trump accounts for kids

Group 1 - Investor Ray Dalio is donating seed money for a new initiative under the Trump administration aimed at creating investment accounts for children in Connecticut [1][2] - The initiative encourages other philanthropists and foundations to participate in the "50 State Challenge" [2] - The accounts allow beneficiaries to withdraw funds starting at age 18 for specific purposes, such as college expenses, and they gain full control at age 30 [3] Group 2 - Parents can contribute up to $5,000 annually to these accounts, which can only be invested in low-cost U.S. stock index funds [3] - Earlier, Michael Dell and his wife announced a significant donation of $6.25 billion to seed 25 million accounts with $250 each [4] - The initiative is designed for children born between December 31, 2024, and January 1, 2029 [3]