President Donald Trump held a press conference Wednesday at the Oval Office celebrating the automatic enrollment of millions of American children in his “Trump Accounts.”

The Treasury Department announced last week that every eligible child under 18 with a valid Social Security number now has a Trump Account, bringing the total to roughly 70 million accounts, according to the White House.

Parents or guardians must still claim their child’s automatically enrolled account before they can manage it or begin receiving contributions.

“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 said. “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.”

An estimated 80% of Trump Accounts are linked to families earning less than $200,000 a year, a White House official told Fox News. The official said automatic enrollment also broadens access to philanthropic contributions, allowing private donors to help jump-start children’s savings.

Trump thanked Michael and Susan Dell for donating roughly $6.25 billion to Trump Accounts, enough to provide $250 to 25 million account holders. Michael Dell, the CEO of Dell Technologies, said the funds would be deposited 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.”

Private donor contributions are on top of the federal government’s one-time contribution of $1,000 to certain account holders.

To qualify, the beneficiary must have been born between Jan. 1, 2025, and Dec. 31, 2028, which means the vast majority of children won’t be receiving the Treasury payment and will instead rely on contributions from family members and other eligible contributors.

Trump Accounts are tax-advantaged brokerage accounts that were created by Republicans’ signature tax-and-spend law last year in the Big Beautiful Bill.

The accounts are legally structured as IRAs but come with special restrictions, including a ban on withdrawals until the beneficiary turns 18.

The normal contribution limit is $5,000 per year for 2026 and 2027, with inflation adjustments afterward. The government’s $1,000 seed payment does not count against that $5,000 limit.

Family and friends can contribute up to $5,000 per year, while employers can contribute up to $2,500 per year.

Trump said over 70 companies have agreed to Trump Account contributions for their employees’ children, including Uber, Intel, Nvidia, Steak n’ Shake.

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

Parents and guardians can claim and manage their children’s Trump Accounts through the official app, available on Apple’s App Store and Google Play. There is also a web version.