The U.S. Treasury asked major philanthropic donors to contribute to new investment accounts for children Wednesday in part of what Secretary Scott Bessent called a “50 State Challenge” to raise funds for the Trump Accounts program. The accounts were created as part of President Donald Trump’s tax and spending legislation, passed over the summer. The billionaire and hedge fund founder Ray Dalio, along with his wife Barbara, announced Wednesday they would commit $250 to 300,000 children in Connecticut, where they live. Their pledge follows a $6.25 billion commitment from billionaires Michael and Susan Dell earlier in December to put $250 into the accounts of 25 million children 10 and under.
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