Michael and Susan Dell Donate $6.25 Billion to Trump Accounts for Children's Benefit
Michael Dell and Susan Dell have donated $6.25 billion to the Trump Accounts for 25 million children, marking one of the largest philanthropic gifts in U.S. history. This donation is connected to President Trump's proposed 'Big Beautiful Bill Act,' which would deposit $1,000 into an account bearing each child's name for every child born during his presidency. The gift equates to about $250 per child, given the estimated 25 million recipients.
Michael Dell emphasized that the donation is not a partisan activity. However, critics argue that ultra-rich philanthropy often serves as a tool to gain access, influence, and favors within political power structures. The article references other Trump backers and inauguration donors to support this view.
A 2010 study by economists from the University of Chicago, Boston University, and the University of British Columbia found that corporate philanthropy often supports charities linked to influential lawmakers and districts, indicating a connection between charitable giving and political influence.
Last year, U.S. charitable giving totaled over $592 billion, about 2% of GDP. Critics have expressed concerns that taxpayers effectively subsidize philanthropy that primarily benefits the wealthy. Debates around 'effective altruism' highlight differing approaches to philanthropy, with figures like Mark Zuckerberg shifting focus toward biology and AI. The article also suggests that policy actions such as expanding the Child Tax Credit might provide more direct benefits to impoverished populations.
