"They'll Be Quite Rich": Trump Says 70 Million Eligible Children Automatically Enrolled In 'Trump Accounts'
President Trump announced in the Oval Office around 1 pm local time that every eligible child in America has been automatically enrolled in a tax-free investment account known as a "Trump account."
Trump said that when the kids "hit 18, they'll be quite rich." The president thanked Treasury Secretary Scott Bessent, as well as the Dell family, for their sizable contribution to Trump accounts.
Trump said, "By today's successes, this means there will be 70 million Trump accounts."
He said these accounts teach kids about "entrepreneurship" ...
Beyond the Dell family, the president said 70 companies have committed to Trump accounts.
.@POTUS: "Since launching in July, nearly eight million accounts have been created in three months. With today's announcement, we're building on that success by 70 million accounts of children across America — and they'll all be enrolled into the @TrumpAccounts." https://t.co/vfw4VA9Zqi
— Rapid Response 47 (@RapidResponse47) October 7, 2026
Trump made the point that an entire generation of young Americans will now own stocks. This is critical because it will renew their belief in capitalism amid fears of Democrats pushing a far-left socialist agenda on young people.
Trump touted stock market records:
Trump then turned to Bessent and said, "Every child deserves to have a piece of the American dream. Treasury will seed the accounts with $1,000. "
This is the start of the "ownership society," Bessent noted.