Tech billionaires Michael and Susan Dell announced Tuesday that they are donating $6.25 billion to expand the reach of Trump accounts and allow more children to access the program, which was created as part of President Trump’s One Big Beautiful Bill earlier this year.

“If there’s one investment that never stops growing, it’s investing in children. They are our future,” the couple wrote in a letter announcing the donation.

The gift represents one of the largest donations ever made directly to Americans. Michael Dell, who founded his namesake computer company in 1987, is estimated to be the world’s 11th richest person, with a net worth of $148 billion.

“This is truly one of the most generous acts in American history,” President Trump said during a press conference with the Dells on Tuesday.

Trump accounts are new, and many of the details are still being ironed out. Here’s a quick rundown of what we know —  and don’t know — about how they will work.

What are Trump accounts?

In the simplest terms, a Trump account is an investment account designed to grow throughout a child’s early years and give them a boost once they reach adulthood. The big difference between Trump accounts and traditional investment accounts is that the initial seed money will, in many cases, come directly from the federal government.

Signups for Trump accounts — their actual name as written in the law —  are expected to start on July 4, 2026. Starting next summer, the federal government will begin making a one-time contribution of $1,000 to every baby with a Social Security number born in the U.S. between Jan. 1, 2025, and Dec. 31, 2028. Any child under the age of 18 will be eligible to have a Trump account opened in their name, but only those born within that window will receive the $1,000 contribution.

On top of the money from the government, almost anyone can contribute to a child’s Trump account, up to a maximum total contribution of $5,000 per year. The law also allows employers to add money to the accounts held by their employees’ children. Several major companies, including Dell Technologies, have pledged to do so. It’s currently unclear whether employee contributions will count as part of the $5,000 annual limit, according to the investment bank Charles Schwab.

Under the law, money in a Trump account must be invested in the stock market through low-cost index funds like the S&P 500. It can’t be withdrawn until the child has turned 18. It can also be converted into a traditional investment account at that time.

The Congressional Budget Office estimates that the government will spend $14.7 billion on contributions to Trump accounts by the end of 2028.

What does the Dells’ donation do?

The $6.2 billion the Dells have pledged will allow 25 million children who were born too early to receive $1,000 from the government to get some startup funds for their Trump accounts.

They will provide $250 to children under the age of 10 who live in zip codes where the median household income is less than $150,000 per year. According to the Dells, 80% of kids under 10 in those communities, which make up about 75% of U.S. zip codes, will be eligible to take advantage of their gift. The benefits may be extended to older children if there’s money left over after initial sign-ups.

The Dells are hoping that their gift will inspire other wealthy Americans to make their own donations to expand the scope of the program.

“To philanthropists, companies, community leaders, if you want to be part of something truly meaningful for our kids, for our communities, for our country … join us,” Michael Dell said in a video posted to social media on Tuesday.

What we don’t know yet

Right now, there’s a lot that’s still unknown about how the Trump accounts will work. The government hasn’t provided details on the process for setting one up or managing their investment once the accounts become available. It’s also unclear which bank, or banks, will be in charge of maintaining the accounts and how the government will decide which firms to trust with the responsibility.

The future of Trump accounts is also unknown. Funding for the $1,000 deposits expires at the end of 2028. Congress will have to approve additional spending at some point for those benefits to extend to children born in 2029 and beyond.

Benefits and drawbacks

The concept of giving kids a financial leg up has been promoted by members of both parties for years. Former Secretary of State Hillary Clinton, for example, proposed giving a $5,000 “baby bond” to all newborns during the 2008 presidential race. The long-term impact of this type of programs is murky, but experts from across the political spectrum have argued that early childhood investment can provide lasting benefits if the programs are well designed.

When it comes to Trump accounts specifically, though, the benefits will likely vary dramatically based on how much a child’s family is able to contribute on top of the initial $1,000 from the government. If no additional deposits are made, the account will only be worth a few thousand dollars when a child reaches adulthood. However, a child who gets the maximum of $5,000 per year from other sources on top of that initial investment can expect to have more than $191,000 in their Trump account by the time they turn 18.

Experts from across the political divide have their criticisms of Trump accounts as they’re currently designed. Researchers from the left-leaning Urban Institute make the case that the program will fail to achieve what they see as the most important outcome of early childhood investment — reducing income inequality — because it doesn’t direct support primarily to families that need it the most.

Adam Michel of the libertarian Cato Institute, on the other hand, argues that Trump accounts offer too little in terms of tax incentives to be a worthwhile alternative to the many other kinds of investment accounts that are already on the market.

There are also some questions about the appeal of investment tools named after a president that a large share of Americans strongly dislike. Some companies and policymakers have even reportedly begun referring to the accounts under the more technical name “530A” as a way to get around people’s personal feelings about Trump.