Nvidia and Apple get a cut of every baby's $1,000 Trump Account | Fortune

Nvidia and Apple get a cut of every baby’s $1,000 Trump Account centers on a U.S. government program that seeds retirement savings accounts named after President Donald Trump. The article says the U.S. began awarding $1,000 to babies born during Trump’s second term, starting July 4, 2026. It states deposits go into an account structured as a traditional IRA, invested in State Street Bank’s SPDR Portfolio that tracks the S&P 500, with withdrawals taxed under IRA rules. The note outlines three design details: eligibility for births in 2025-2028, with federal funding expiring Sept. 30, 2034; limits on extra contributions (up to $5,000 annually from individuals and up to $2,500 from employers and charities); and no requirement for earned income by the child. It also says comparisons to 529 college plans are misleading because Trump Accounts are intended to give children an early start toward retirement. The article further mentions Michael Dell and Susan Dell pledging $250 for the first 25 million children who sign up under certain income conditions.