Billionaire Ray Dalio will make a “generous contribution” to the “Trump accounts,” giving 300,000 children in Connecticut $250 each, or roughly $75 million.
Why it matters: The news came alongside the launch of a new website that signaled how White House officials envision the government, corporations and billionaires contributing to the accounts, aimed at improving kids” financial prospects.
Driving the news: Treasury Secretary Scott Bessent said that Dalio has joined a “50 State Challenge,” a new initiative aimed at rallying the nation’s richest people and philanthropists to contribute to these funds.
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What to watch: The website also lists seven companies — Block, Uber, BlackRock, Mastercard, Visa, Bank of New York Mellon, Charter Communications — that have pledged “additional support.”