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US mulls tapping Robinhood for 'Trump accounts' for kids, Bloomberg News reports
Robinhood is among up to three firms the Treasury may name as trustees to manage $1,000 government-funded investment accounts for children born 2025-2028.
- On Jan 29, Reuters reported the U.S. Department of the Treasury is considering Robinhood Markets as one of up to three trustees to oversee Trump Accounts seeding $1,000 for children born between 2025 and 2028.
- Parents, relatives and employers can contribute up to $5,000 annually, and accounts will be invested in low-cost U.S. stock index funds locked until age 18, requiring trustees to manage registrations via Form 4547.
- Internally, Robinhood has prepared for possible selection as trustee, attended a White House event, and Vlad Tenev said, `I think this is super important, particularly now…` while shares rose 3% in after-hours trading Thursday.
- Initial trustees would gain early access to new fund launches and potentially manage billions in new funds and customer relationships, backed by federal funding for Trump Accounts.
- Experts note the $1,000 seed alone will have limited impact for poor families, projecting balances of about $5,800 by age 18, while President Donald Trump called it `transformative` and praised Michael Dell's donations.
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Treasury’s Bessent Pitches “Trump Accounts,” Promises $1,000 Seed Investment for Kids and Private-Sector Matching
WASHINGTON, D.C. — Treasury Secretary Scott Bessent on Wednesday January 28, 2026, laid out a sweeping case for what he called “Trump Accounts,” a new program he said would expand private investment ownership by giving eligible children a federally funded seed deposit and encouraging additional contributions from families, employers, philanthropists, and states. In remarks introduced [...] The post Treasury’s Bessent Pitches “Trump Accounts,” Pr…
Robinhood CEO Told President They Can Make Trump Accounts 'Robust,' Now Company Could Win Deal - Robinhood Markets (NASDAQ:HOOD)
Robinhood could be one of the winners of the Trump Accounts for new children born from 2025 to 2028. Here's how. Importance Rank: 1
·New York, United States
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Coverage Details
Total News Sources10
Leaning Left0Leaning Right4Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
C 56%
R 44%
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