Goldman Sachs will donate $1,000 to Trump accounts for employees’ children
The chairman of the US Securities and Exchange Commission Paul Atkins discusses the number of investment accounts of Trump in Kudlow.
Goldman Sachs on Thursday announced that it would make a matching contribution to Trump accounts for eligible children of the company’s employees.
The company will make a one-time matching contribution of $1,000 to employees with children born between 2025 and 2028 at the time of enrollment Trump Accountsmatched by a $1,000 corporate seed donation.
“Starting early and staying invested for the long term is one of the most reliable ways for American families to build lasting financial security,” said Goldman Sachs CEO David Solomon.
“We have long been committed to the importance of saving and investing as a path to a strong financial future, and we are proud to continue our support of this partnership and investment in America’s future,” added Solomon.
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The CEO of Goldman Sachs, David Solomon, said that Trump Accounts can help instill savings and investments as financial practices. (Al Drago/Bloomberg via Getty Images)
The company said in a statement that it views the private sector program as a way to “instill the basic economic principles of saving and investing in the next generation of Americans.”
With the same offering, Goldman Sachs joins US companies that have chosen to participate in the Trump Accounts program.
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The Trump Accounts are scheduled to officially launch on July 4. (Valerie Plesch/Bloomberg via Getty Images)
Financial firms including Citi, JPMorgan Chase, Bank of America and Vanguard have all announced that they will make contributions to Trump Accounts for the children of their employees at least equal to the federal contribution of $1,000 for children born between 2025 and 2028.
Michael and Susan Dell also announced a $6.25 billion donation to create 25 million accounts for children 10 and under at $250 each, providing a boost to include some children who would otherwise not qualify for federal seed money.
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The Trump Accounts app will have eight special financial literacy modules that families can access before the July 4 rollout. (US Treasury / Fox News)
Trump’s accounts were created by the One Big Beautiful Bill Act, a package of tax cuts and reforms passed by Republicans in Congress and signed into law by President Donald Trump last year.
The program invests savings in low-cost index funds that provide broad, diversified exposure to the US stock market.
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Parents and guardians may contribute up to $5,000 a year to their children’s accounts, while a parent’s employer can contribute up to $2,500 a year without affecting the employee’s taxable income.
