Michael and Susan Dell Donate $6.25 Billion to 'Trump Accounts' for Children Amid Criticism of Billionaire Philanthropy
Michael and Susan Dell have donated $6.25 billion into the so-called "Trump Accounts," a philanthropic initiative aimed at providing $1,000 deposits to accounts for 25 million children born during Donald Trump's presidency. This donation is among the largest philanthropic gifts in U.S. history.
The Trump Accounts concept aligns with Trump's proposed Big Beautiful Bill Act, which envisions a federal contribution of $1,000 for each child born under his administration. Although Dell maintains that the donation is not partisan, critics argue that such philanthropy serves to curry favor with Trump and secure access to policymakers.
The article situates this donation within a broader pattern of billionaire philanthropy often used to influence politics and obtain political access. A 2010 study by economists from the University of Chicago, Boston University, and the University of British Columbia found corporate philanthropy frequently aligns with political power, with donations supporting charities connected to members of Congress and influential committees. For example, Exelon donated to a Boys and Girls Club led by Joe Barton, while JPMorgan Chase, Bank of America, and Wells Fargo contributed to the Washington Farmworker Housing Trust. The Walmart Foundation supports the Joe Baca Foundation. This donor behavior often correlates with political action committee activity and benefits from philanthropy subsidies through tax breaks. In total, U.S. charitable giving reached approximately $592 billion last year, about 2% of the GDP.
The piece also addresses the rise of "effective altruism" among tech elites, highlighting how figures like Mark Zuckerberg have shifted philanthropy toward scientific fields such as biology and artificial intelligence. In comparison, Dell's $250 contribution per child is modest against the scale of the federal program. The article suggests that reforming the child tax credit might better aid the poorest children.
