Morgan Stanley, Goldman Sachs to match $1,000 contributions to Trump accounts opened for employees' children
Goldman Sachs and Morgan Stanley will match the federal $1,000 deposit for eligible employees’ children as private employers expand support for the new savings accounts.
- On Thursday, Goldman Sachs announced a $1,000 matching contribution to Trump Accounts for eligible children of employees, matching the $1,000 Treasury contribution for children born between 2025 and 2028.
- The Treasury provides a $1,000 initial deposit for children born between 2025 and 2028 as part of a public-private initiative to instill fundamental economic principles of savings and investing in America.
- Financial firms including Citi, JPMorgan Chase, Bank of America, and Vanguard have committed to matching the $1,000 contribution for employees' children to promote long-term financial security for American families.
- CEO Michael Dell and Susan Dell announced a $6.25 billion donation to seed 25 million accounts with $250 each, targeting children 10 and under who might not otherwise qualify for the initial deposit.
- Altimeter Capital CEO Brad Gerstner said Thursday the momentum is "totally extraordinary," adding that the initiative "unlocks a creative new form of philanthropy" with more announcements expected.
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The Trump administration is launching its long-promised 'Trump Accounts' programme on 4 July, giving eligible newborn American children a $1,000 (£775) government-funded investment account. Supporters describe it as a bold attempt to create a generation of investors. Critics, however, argue that the scheme offers little help to families struggling with the soaring cost of raising children today. The funds remain locked away until the child reach…
CNBC interviews President Trump in the Oval Office
CNBC interviews President Trump in the Oval OfficePresident Donald Trump sits down for exclusive interview with CNBC: Live updatesTrump Accounts get a boost from employer contributions — Goldman Sachs and Morgan Stanley are the latest to offer matching programs
Trump Accounts get a boost from employer contributions — Goldman Sachs and Morgan Stanley are the latest to offer matching programs
The growing list of companies that will match contributions to Trump Accounts for their employees now includes Goldman Sachs and Morgan Stanley.
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