In a major philanthropic move, billionaires Michael and Susan Dell are donating $6.25 billion to deposit $250 into savings accounts for up to 25 million American children.

The announcement from the Dells, which was confirmed by a White House official, gives the funds to Invest America, which sets up a tax-advantaged investment account for American children starting at birth.

The so-called Trump Accounts are a key piece of President Donald Trump's signature tax and spending legislation, which passed earlier this year.

Under that law, the Treasury Department will give $1,000 to the accounts for children born between Jan. 1, 2025, and Dec. 31, 2028. Those accounts become the property of a child’s guardian and "will track a stock index and allow for additional private contributions

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