Robinhood Markets (NASDAQ:HOOD) plans to provide technology and capital resources for the White House's "Invest America" initiative, which would give every child born in America $1,000 in a brokerage account, CEO Vlad Tenev said Monday.
Robinhood (NASDAQ:HOOD) disclosed its participation in the program in an emailed press release to Seeking Alpha.
Earlier, President Donald Trump announced the pilot program that would give a $1,000 government-funded index fund account to American children born between Jan. 1, 2025, and Dec. 31, 2028. The announcement of the program was made during a White House roundtable with prominent executives, which included Robinhood's (NASDAQ:HOOD) Tenev, Michael Dell, Goldman Sachs (GS) Chairman and CEO David Solomon, and Uber (UBER) CEO Dara Khosrowshahi, among others.
The savings accounts for minors were part of the House's "One Big, Beautiful Bill" that also included big tax cuts and rolled back a raft of green energy tax incentives. The House passed the bill, but the Senate has yet to vote on it.
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