Trump rings New York Stock Exchange bell to mark first trading day for ‘Trump accounts’

Donald Trump rings the opening bell for the New York Stock Exchange and the Nasdaq in the Oval Office at the White House in Washington DC on Monday. Photograph: Mark Schiefelbein/AP View image in fullscreen Donald Trump rings the opening bell for the New York Stock Exchange and the Nasdaq in the Oval Office at the White House in Washington DC on Monday. Photograph: Mark Schiefelbein/AP Trump rings New York Stock Exchange bell to mark first trading day for ‘Trump accounts’ US president rings bell from White House and showcases initiative that gives children a $1,000 investment account Donald Trump rang the bell of the New York Stock Exchange (NYSE) from the White House to mark the first trading day for Trump accounts, a government initiative that provides children with a $1,000 investment account. The US president hosted leaders from the NYSE and the Nasdaq stock exchange at the Oval Office for a press conference on Monday morning. It is the first joint opening of the exchanges, and the first time the bell had been rung at the White House. “Those accounts will begin to grow along with our booming economy,” Trump said. “We’re giving this money to children so they can have a good life.” How do ‘Trump accounts’ work – and who will benefit? Read more Though the accounts carry Trump’s personal branding, the idea of providing children – particularly those born into economic hardship – with a vehicle to compound savings over their childhood long predates the president and has bipartisan support. Congress established the accounts in the One Big Beautiful Bill Act. “I did not ask for it,” Trump claimed of the accounts being named after him. “I have done that in other cases.”. Trump said he wanted to keep the bell that exchange officials brought to the Oval Office, and display it in the new White House ballroom when it is complete. Accounts established for children born between January 2025 through December 2028 will receive $1,000 from the US federal government. Parents, friends and employers will be able to deposit as much as $5,000 a year into the accounts, which will be controlled by parents and guardians until their children turn 18, after which the account holder gains control and can use saved-up funds to pay for college, buy a home or start a business. Investments default to a diversified index fund. Parents can sign up for an account through the IRS. “They can have a lot of money,” Trump said of the accounts. “We should have acted faster. It’s too bad.” Wealthy donors have directed charitable contributions into the funds. The Dell Technologies founder Michael Dell and his wife, Susan, contributed $6.25bn for 25 million children under the age of 10 living in low-income areas, who will receive an extra $250 into their accounts. The hedge fund manager Ray Dalio and his wife, Barbara, donated so that about 300,000 children living in lower-income areas of Connecticut receive an additional $250. “We’re going to get him that money back one way or another,