NEW YORK (AP) — Billionaires Michael and Susan Dell pledged $6.25 billion Tuesday to provide 25 million American children under 10 an incentive to claim the new investment accounts for children created as part of President Donald Trump’s tax and spending legislation.

The announcement is scheduled to take place at 2 p.m. ET. Watch the event live in the player above.

The historic gift has little precedent, with few single charitable commitments in the past 25 years exceeding $1 billion, much less multiple billions. Announced on GivingTuesday, the Dells believe it’s the largest single private commitment made to U.S. children.

It is also unusual in that it will operate through investment accounts set up by the U.S. Department of the Treasury that will be managed by private companies. Dubb

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