Investment account for children
Search documents
Rapper Nicki Minaj Will Make Donations To Fans' Trump Accounts
Investopedia· 2026-01-29 01:01
Group 1 - President Trump announced that rapper Nicki Minaj is pledging hundreds of thousands of dollars in donations to her fans' Trump Accounts, which are new investment accounts for children [1][7] - Minaj's donation is estimated to be between $150,000 to $300,000, although the final amount remains uncertain [3][7] - The Trump Accounts are set to launch on July 5, 2026, and will provide a one-time $1,000 donation from the U.S. Treasury for babies born between January 1, 2025, and December 31, 2028 [4][5] Group 2 - The accounts have a $5,000 annual contribution limit, indexed to inflation, and are designed to be similar to IRAs, with funds accessible only when the child turns 18 [5] - Other high-profile individuals, such as Michael Dell and Ray Dalio, have also announced significant donations to these accounts, with Dell planning to donate $6.25 billion for 25 million children [6][7] - Employers like Charles Schwab, Robinhood, and JPMorgan have committed to matching the U.S. Treasury's one-time contribution, adding an additional $1,000 per child [7]