Tech billionaires Michael and Susan Dell have pledged $US6.25 billion ($9.5 billion) to new investment accounts for children, known as "Trump accounts".
The money will be split into individual investments of $US250 for 25 million children.
The historic gift has little precedent, with few single charitable commitments in the past 25 years exceeding $US1 billion.
Here's a look at what the Trump accounts are and how the Dells' donation will work.
What are the Trump accounts?
The program has been created as part of US President Donald Trump's One Big Beautiful Bill Act.
It allows parents to open tax-deferred investment accounts on behalf of their children under the age of 18.
Account contributions must be invested in an index fund that tracks the overall stock market.
At 18 years old, account holders can withdraw money put into the tax-deferred investment accounts to put toward a house deposit, education or starting a small business.
The US Department of Treasury will deposit $US1,000 into investment accounts it sets up for American children born between January 1, 2025, and December 31, 2028.
Assuming a 7 per cent return, the $US1,000 seed given by the government will grow to roughly $US3,750 by the time it can be accessed.
While the Trump Accounts became law in July, the accounts will not launch until July 4, 2026.
How will the Dells' donation work?
The Dells' contribution will build on the Trump accounts program, targeting a slightly older cohort.
They'll put $US250 into the accounts of children aged 10 and under who live in areas where the median family income is $US150,000 or less, and who are born outside the eligibility window for the government's seed money.
The couple said they hoped their gift would encourage families to claim the accounts and deposit more money into them.
"We're thrilled to be spearheading this in the philanthropy sector and are so excited because we know that more people are going to jump on board because really, we can't think of a better idea and better way to help America's children," Ms Dell said.
How have the Trump accounts been received?
Backers of the accounts say they want to introduce more people to the stock market and give even children born into poverty a chance to benefit from it.
They believe the government contribution will help combat the rising popularity of socialism and offer more people the opportunity to build wealth.
Before Mr Trump created the accounts, California, Connecticut and DC were piloting "baby bonds" programs that are in some ways similar.
Those programs target children growing up in poverty or foster care, as well as those who lost a parent to COVID-19.
They're also managed by the state, not private investment firms.
But critics say even with the contribution from the government, the accounts will only widen the wealth gap.
That's because wealthy families that can afford to make the maximum pre-tax contribution to the accounts will reap the greatest benefits.
Meanwhile, poor families who can't afford to set aside money for the accounts will benefit the least.
National Women's Law Center vice-president of income security and childcare Amy Matsui said the accounts would become "another tax shelter for the wealthiest".
"In the end, this policy mirrors the rest of the law: another giveaway to the richest Americans that leaves everyone else further behind," she said in a statement.
"If the White House were serious about supporting families struggling with the costs of living, it would be advocating for investments in child care, an expanded Child Tax Credit, and undoing the historic cuts to SNAP and Medicaid."
That echoes sentiments of other critics, who have pointed out the accounts will do little to help children in their early years, when they're most vulnerable to, and most likely to be in, poverty.
They also say the accounts do little to offset funding cuts made by the Trump administration to other programs like food assistance and Medicaid.
Who are the Dells?
Michael Dell is the founder, chairman and chief executive of Dell Technologies, one of the world's largest technology infrastructure companies.
With an estimated net worth of $US148 billion, the Bloomberg Billionaires Index places him as the 11th richest person in the world.
He married Susan, whose maiden name was Lieberman, in 1989, and the couple went on to have four children.
As of 2024, the Dells had donated a lifetime total of $US2.85 billion to mostly children's causes, according to Forbes.
How does this stack up against other tech billionaires' philanthropy?
Tech billionaires make up several of America's biggest philanthropists.
Bill Gates and Melinda French Gates are estimated to have donated a lifetime total of $US47.7 billion to charity, with $US5.2 billion given away in 2024.
In 2022, Mr Gates gave $US20 billion to his foundation.
MacKenzie Scott, the ex-wife of Amazon co-founder Jeff Bezos, has donated $US19.25 billion to a range of non-profit groups with a focus on education, housing and economic equity.
Meanwhile, Meta founder Mark Zuckerberg and his wife Priscilla Chan, a paediatrician, have shifted their philanthropic focus from education and social justice to science and AI.
It's estimated they have donated a combined total of $US5.1 billion over the years.
ABC/AP
