Goldman Sachs announced on Thursday that it will make a $1,000 contribution to Trump Accounts for eligible children of the firm’s employees, supporting a public-private initiative launched by President Donald Trump that encourages early saving, investing, and financial literacy.
The one-time contribution matches the $1,000 federal seed contribution given to eligible participants at enrollment.
With its matching contribution, Goldman Sachs joins a growing list of financial firms participating in the program, including JPMorgan Chase and Bank of America.
Trump’s government-backed newborn investment accounts were created as part of the president's landmark tax and immigration law known as the One Big Beautiful Bill. Trump signed the sweeping legislation into law on July 4, 2025.
One year later, the Trump accounts are set to formally launch on Saturday, to mark the United States’ 250th anniversary.
Treasury Secretary Scott Bessent also announced on Thursday that donors can transfer publicly traded shares to eligible children through the accounts.
Earlier this year, Bessent celebrated the launch of the Trump Accounts app and claimed it was the “the most important benefit for young people since the GI Bill.” According to Bessent, financial markets felt out of reach for too many for too long. The Treasury secretary previously pointed out that 38 percent of Americans have no exposure to equities.
Under the program, funds are invested in low-cost U.S. equity index funds or exchange-traded funds (ETFs), with fees capped at 0.10 percent.
While the federal government will contribute $1,000 for every child born starting in 2025 through 2028, some companies and philanthropists have made additional donations.
Additionally, parents and guardians can contribute up to $5,000 a year to their children's accounts. Children can have access to the funds when they turn 18. Employers also can contribute up to $2,500 a year to an employee's child's account without the contribution being treated as taxable income for the employee.
More than six million American families have signed up for Trump accounts nearly ahead of the program's official launch on July 4.