The White House announced new updates on Wednesday regarding the "Trump Account," which included an additional donation from Bridgewater founder Ray Dalio and his wife Barbara. The Dalios' contribution will provide $250 each to approximately 300,000 children in Connecticut. The funds will be distributed to children residing in zip codes where the median household income is below $150,000.
U.S. Treasury Secretary Besant estimated that Dalio’s donation to the Trump Account could reach as much as $100 million, though the final figure has yet to be confirmed.
Dalio posted on social media platform X: "I personally commend the Trump administration for launching the 'Trump Account' and appreciate the strong support from the Dales, as well as their openness to allowing the Dalio Philanthropies and others to participate... Beyond contributing to these accounts, I will also collaborate with others to promote financial literacy education. This way, everyone can grasp fundamental knowledge, such as earning more to spend more, as well as saving and investing wisely. In other words, I believe human capital—people's ability to earn and manage money—is the most valuable form of capital and the backbone of a strong nation. That’s why this is my primary investment focus now..."
Tesla Motors CEO Elon Musk commented under Dalio’s post: "This is certainly a generous gesture by the Dale family, but poverty will not exist in the future, so saving won’t be necessary. Universal high income will become the norm."
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