U.S. Treasury Secretary Scott Bessent said he expects more billionaires, foundations and corporations to contribute funds to the new "Trump accounts" for 25 million Americans born between 2025 and 2028, which he said will help them participate in asset appreciation now associated with wealthier families.

"I think that this is the beginning of a shareholder economy," Bessent told The New York Times DealBook Summit in New York.

Bessent said that the accounts provide a chance for more philanthropists to contribute part of their fortunes directly to American children, following the example of Michael and Susan Dell to contribute $6.25 billion towards the accounts in the Treasury-run Invest America initiative.

He added that some donors would target their donations to children in certain states or school districts.