President Trump said Wednesday that Micron, a U.S. chip company, had agreed to invest $250 million in Trump accounts, a new type of investment account for children that was created in last year’s tax bill.
“This incredible gesture, made by Micron’s fantastic CEO, Sanjay Mehrotra, will make many children extremely happy some day in the not too distant future,” Mr. Trump said on Truth Social. He called it “the BIGGEST CORPORATE Investment of its kind.”
A Trump account can be opened for any child under 18 with a Social Security number. Individuals, employers and others can deposit money into the accounts, which grow tax-free, like individual retirement accounts. The accounts will be available starting July 4.
There are still big questions about how these accounts will operate, but the administration has been considering using investments from other companies, including those specializing in artificial intelligence and SpaceX, to seed them.
Michael Dell of Dell Technologies and his wife, Susan, previously announced a $6.25 billion donation.
Micron did not immediately respond to a request for comment.
Tyler Pager contributed reporting.
