Trump says 500,000 children receive first USD1,000 Trump account deposits

WASHINGTON: President Donald Trump said on Monday the government had deposited the first USD1,000 into more than 500,000 “Trump Accounts,” a program designed to give newborn Americans a stake in the stock market and help build wealth from an early age.

Trump rang the opening bell from the White House Oval Office alongside executives of the New York Stock Exchange and Nasdaq. He said cooperation between the rival exchanges was something Democrats and Republicans had been unable to replicate.

CEO Adena Friedman and President Nelson Griggs from Nasdaq , Intercontinental Exchange CEO Jeffrey Sprecher, and President of NYSE Group Lynn Martin were present at the ringing of the bell.

The rising cost of living has become a major issue for voters heading into the November midterm elections.

Supporters say the Trump Accounts, designed for US citizens born between 2025 and 2028, will encourage long-term investing and financial literacy, while critics argue families with limited disposable income may be unable to make additional contributions and benefit fully from the accounts.