Billionaire Ray Dalio backs Trump admin investment accounts for kids, joining Michael Dell

Billionaire investor Ray Dalio threw his support behind President Donald Trump's plan to create investment accounts for children across the country on Wednesday.Dalio announced a donation of roughly $75 million aimed at contributing $250 to investment accounts for 300,000 children in Connecticut. Trump has called on wealthy Americans to contributed to similar funds across the country."By providing children with savings accounts that compound over time we are providing them with early insights into financial literacy and a path towards financial independence. I applaud President Trump, Secretary Bessent, the Dell Family and many others who have spearheaded this initiative," Dalio wrote in a post on social media."These Trump Accounts are great not just because they put money into stocks for these young people but also because they draw their attention toward how finance, stocks, companies and capitalism work to improve society and can work for them," he added.Dalio accompanied Treasury Secretary Scott Bessent at a White House event announcing a "50 State Challenge" to encourage donations."The President is calling on our nation's business leaders and private organizations to help us make America great again by securing the financial future of America's children," Bessent said.The pledged funds will go to children who live in areas of Connecticut where the median income is less than $150,000.This is a developing story. Check back soon for updates.Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business