Michael Dell, founder and CEO of Dell Technologies, says 25 million children will have $250 in their Trump accounts by Friday from the $6.25 billion he and his wife Susan pledged in December. Dell tells Yahoo Finance how the gift was funded, which philanthropists and employers are joining in, including SpaceX President Gwynne Shotwell’s plan to give SpaceX shares to 2 million children, and why he calls concerns about stock donations to the accounts “nonsense.” He also discusses the role of financial education, whether the accounts will move the stock market, and how a childhood savings account sparked his own interest in investing.
00:00 Michael Dell on the $6.25 billion Trump accounts gift
00:24 25 million children to get $250 this week
00:54 How the Dells funded the gift
01:17 Will more philanthropists follow?
01:40 Gwynne Shotwell’s SpaceX share gift
02:13 Brad Gerstner, Ray Dalio and employers join in
02:51 The criticism of stock donations
03:19 Dell: “Unlikely corner cases”
04:54 “I think it’s actually nonsense”
05:03 Pairing the gift with financial education
05:43 37 states now teach financial education
06:51 What it means for the stock market
07:24 Dell’s first savings account
#MichaelDell #TrumpAccounts #Investing #YahooFinance
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