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PoliticsBessent: Trump Account signups reach 7 million, hails 'most successful launch in government history'
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Treasury Secretary Scott Bessent announced that 7 million American children have been signed up for Trump Accounts (530A accounts), calling it 'the most successful launch in government history.' The program, launched on July 4, 2026, provides a one-time $1,000 Treasury deposit for children born from 2025 through 2028, with additional contributions of up to $5,000 per year from family members invested in S&P 500 ETFs. Bessent said the accounts will create 'a new class of shareholders' and provide a real-time financial learning experience. A McKinsey analysis projects the program could generate $80 billion to over $900 billion in long-term asset accumulation for children across income levels over the next decade, though participation and sustained engagement remain key factors.
Source report
Treasury Secretary Scott Bessent on Monday declared the Trump Accounts program "the most successful launch in government history," according to prepared remarks exclusively provided in advance to CNBC.
Key Figures
- 7 million children have been signed up for the new tax-deferred savings and investment accounts, up from 6.5 million earlier this month.
- While many more children remain eligible, the Treasury Department noted that early sign-ups have outpaced those for other digital platforms and products.
Bessent's Remarks
Speaking at a meeting of the Financial Literacy and Education Commission, Bessent highlighted the program's broader impact:
"American families, left on the sidelines of Wall Street for too long, will finally understand what a piece of the action feels like."
Noting that young adults increasingly turn to "social media, online communities, and AI for financial advice," Bessent described the newly launched investment accounts as offering "one of the great real-time learning experiences in the history of the United States."
Background on Trump Accounts
Also known as 530A accounts, Trump Accounts were established through President Donald Trump's "big beautiful bill" and are open to any U.S. child under 18 with a Social Security number.
Key Features
- One-time $1,000 deposit from the Treasury Department for children born from 2025 through 2028, as part of a pilot program to jump-start long-term savings.
- Additional contributions of up to $5,000 per child per year from parents, guardians, grandparents, and others.
- Investments are placed in exchange-traded funds (ETFs) that track the performance of the S&P 500.
Wealth Inequality Context
Stock wealth has largely been accrued by the richest U.S. households, studies show. According to a Gallup Poll cited by Bessent, 38% of Americans have no exposure to equities at all.
Long-Term Projections
According to a recent analysis by consulting firm McKinsey, Trump Accounts could potentially generate $80 billion to more than $900 billion in long-term asset accumulation for children across all income levels over the next decade. However, the analysis noted that participation, contribution patterns, and sustained engagement are key factors in those outcomes.
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US Top News and AnalysisWestern
Part of this Story
Trump Accounts launching July 4, 2026 for American children