President Donald Trump lauded the Treasury Department’s automatic enrollment for Trump Accounts at an Oval Office event on Oct. 7.

Trump highlighted that approximately 70 million U.S. children have now been enrolled in these tax-advantaged investment accounts.

“If all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18, and then 21, and as time goes by,” Trump told reporters. “This money is your child’s future. And when you were a child in the old days, your child would hit 18 and there’s nothing.”

Estimates vary, but the Milken Institute projected in a March 2025 paper that $1,000 accounts could grow, on average, to $8,000 after 20 years. After 40 years, they could reach $69,000.

The White House estimates, using average stock market returns over time, that values of these accounts could exceed $1 million if parents maximize their contributions by the time their children turn 28.

This comes days after the Treasury began the auto-enrollment process for 530A accounts, meaning every American child under 18 with a valid Social Security number has now been assigned a Trump Account.

“With automatic enrollment, over 60 million more eligible children now have an account ready to be claimed,” Treasury Secretary Scott Bessent announced in a statement on Oct. 1.

Trump Accounts can receive up to $5,000 in contributions each year, with the accounts held in the child’s name and managed by parents or guardians until the child turns 18. At that point, the child gains full control of the funds.

To activate an account, parents must download the official Trump Accounts app on Android or iOS, verify their identities, and confirm their relationship to the child. Once the information is reviewed and approved, the account is formally claimed and its terms accepted.

Parents or guardians must claim the child’s account to manage it and enable contributions from relatives, friends, or employers. Only accounts that are claimed will receive the $1,000 seed deposit from the Treasury, the department confirmed last week. The $1,000 is available for children born between Jan. 1, 2025, and Dec. 31, 2028.

“Now, every member of the next generation will have an investment account and will benefit from our booming economy,” Trump said.

Auto-enrollment expands access to philanthropic contributions, the president said. This carves a simple path for donors to contribute to eligible children’s Trump Accounts.

Since its July 4 launch, more than $2.2 billion has been deposited into these accounts, according to the White House. Eighty percent of Trump Accounts are linked to families earning less than $200,000 a year.

To date, almost half of the contributions came from the federal government’s $1,000 seed funds. Additionally, $638 million were direct contributions from friends and family, and $291 million were philanthropic gifts.

(L-R) Founder and CEO of Dell Technologies Michael Dell, founder and CEO of Altimeter Capital Brad Gerstner, and President Donald Trump during the Trump Accounts summit at the Andrew W. Mellon Auditorium in Washington on Jan. 28, 2026. (Madalina Kilroy/The Epoch Times)

Dozens of companies—including Bank of America, Intel, Steak ’n Shake, Coinbase, and Robinhood—have pledged to make Trump Account contributions.

Susan and Michael Dell committed to donating $250 to 25 million accounts, with deposits planned by the end of this week.

“We believe in you, and we want you to dream big because we know you can make your dreams come true,” Susan Dell said. “So, parents and grandparents, please claim your child’s account. These accounts are ready. They’re waiting for you, and they have money in them.”

Trump Account balances must be invested in funds that mirror the performance of a U.S. stock index, and those funds cannot charge more than 0.1 percent in annual fees and expenses. The Treasury will also permit stock donations to Trump Accounts, according to temporary regulations published.

Naveen Athrappully contributed to this report.

Correction: An earlier version of this article misstated the number of American children auto-enrolled in Trump Accounts. The Epoch Times regrets the error.