The Trump Accounts program, officially launched on July 4, has enrolled approximately 7 million children in its first weeks of operation, according to Treasury Secretary Scott Bessent. The enrollment figure represents growth from 6.5 million reported earlier in the month. Bessent characterized the initiative as achieving unprecedented success compared to other government launches and digital platforms.
The accounts, formally known as 530A accounts, are available to any U.S. child under 18 with a Social Security number. As part of a pilot program, children born between 2025 and 2028 are eligible to receive a one-time $1,000 deposit from the Treasury Department to establish long-term savings. Beyond the initial government contribution, parents, guardians, and other family members may contribute up to $5,000 annually per child.
The funds are automatically invested in exchange-traded funds that mirror S&P 500 performance, providing children with early exposure to equity markets. Bessent highlighted the program’s educational value, noting that it offers young Americans real-time learning about investment and wealth-building at a time when many increasingly rely on social media, online communities, and artificial intelligence for financial information.
According to Bessent’s remarks, the initiative aims to address wealth inequality in stock ownership. Current data shows that 38% of Americans hold no equities whatsoever, while stock wealth has historically accumulated among higher-income households. The program is intended to create what Bessent described as a new generation of shareholders with meaningful exposure to capital markets.
Analysis by consulting firm McKinsey suggests the program could generate between $80 billion and over $900 billion in accumulated assets for participating children over the next decade, depending on participation rates, contribution patterns, and sustained engagement with the accounts.
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