3 weeks ago
11
Joseph Zeballos-Roig
Wed, December 17, 2025 astatine 9:48 AM CST 1 min read
Investor Ray Dalio volition go the latest concern enforcement to donate currency for President Donald Trump's concern relationship for kids.
Treasury Secretary Scott Bessent announced connected Wednesday that Dalio volition beryllium donating effect wealth for Connecticut kids nether a caller Trump medication inaugural to rally philanthropists astir the program.
"Ray has made the archetypal move, but we invited different donors and foundations successful Connecticut and crossed the state to articulation him successful the 50 State Challenge," Bessent said astatine a property conference.
A caller authorities website for the inaugural was besides unveiled. Both Ray and Barbara Dalio are listed arsenic philanthropists with "more to come," the website said.
Beneficiaries tin retreat the currency starting astatine property 18 nether circumstantial circumstances specified arsenic paying for college. They basal to summation afloat power implicit the wealth astatine property 30, and parents volition beryllium allowed to deposit up to $5,000 annually. There's 1 catch: The wealth tin lone beryllium invested successful low-cost U.S. banal scale funds.
The relationship functions likewise to a accepted idiosyncratic status account, amended known arsenic an IRA. Children calved aft Dec. 31, 2024 and earlier Jan. 1, 2029 volition suffice for an account.
Earlier this month, CEO Michael Dell of Dell Technologies and his woman Susan announced a donation of $6.25 cardinal for the initiative that volition effect 25 cardinal accounts with $250 a piece.
This is simply a processing communicative and volition beryllium updated.
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