US President Donald Trump on Monday (Jul 6) declared that he was stealing an iconic relic from Wall Street. The 47th POTUS on Monday became the first president to ring the Wall Street’s opening bell from the Oval Office while marking the first trading day of his so-called "Trump accounts". Notably, this is not the first time Trump has gotten fascinated by a golden object and has decided to keep it for himself. Last year, the US President quipped his desire to possess the solid-gold World Cup trophy, which now remains proudly displayed in the Oval Office. He also made a nearly identical joke last month during his Wisconsin visit, when Olympic speed skating champion Jordan Stolz draped one of his gold medals around the president’s neck.Also read | <a href="https://www.wionews.com/world/trump-admits-he-s-worried-about-breaking-america-s-heaviest-president-record-i-have-to-be-careful-1783128878681">Trump admits he's worried about breaking America's heaviest President record: 'I have to be careful...'</a><h2>'They're gonna have to fight like hell to get it back'</h2>Trump said it not once but twice that he's "not giving it back". once in the Oval Office, and a second time during a Rose Garden lunch in front of guests such as MAGA rapper Nicky Minaj, whom he described as "so hot and so great.""There’s the bell right there," he beamed, adding that they'll have to "fight like hell to get it back"."It’s so beautiful, I’m not giving it back. I don’t know if it’s supposed to go back, but they’re gonna have to fight like hell to get it back."A video of the moment is going viral on social media. Check it out here:

<blockquote class="twitter-tweet">BREAKING: Trump just admitted that he&#39;s going to take the bell that he rings to open the NASDAQ and NYSE today and put it in the &quot;new ballroom&quot;. The only thing he ever thinks of is stealing crap. <a href="https://t.co/onBNXuKeQY">pic.twitter.com/onBNXuKeQY</a>&mdash; Brian Krassenstein (@krassenstein) <a href="https://x.com/krassenstein/status/2074124192404918402?ref_src=twsrc%5Etfw">July 6, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

<h2>What are Trump accounts?</h2>Trump Accounts, as per its official website, are "long-term financial security for millions of kids".Announced during Trump's <a href="https://www.wionews.com/photos/claim-vs-fact-breaking-down-trump-s-state-of-the-union-2026-speech-full-fact-check-1772001873739">State of the Union address</a>, the accounts named after the POTUS are investment accounts for children born during Trump's second term. These will be seeded with $1,000 per child from the federal government. Republicans created the program, officially dubbed "Trump accounts," through the GOP tax-and-spending law.Also read | <a href="https://www.wionews.com/world/pope-leo-xiv-uses-america-s-250th-anniversary-to-push-for-migrant-rights-as-trump-warns-of-threats-to-us-identity-1783140175807">Pope Leo XIV uses America's 250th anniversary to push for migrant rights as Trump warns of 'threats to US identity'</a><h2>Who is eligible for Trump accounts?</h2>Any US child under the age of 18 with a Social Security number qualifies for a Trump account. However, if their Social Security card states “Valid for Work Only with DHS Authorization,” the IRS says the number is valid only as long as the DHS authorisation remains in effect.According to The Hill, the age of your child and where you live will impact whether or not they receive seed funds to kickstart their account.&nbsp;

Donald Trump has found a new trophy for his White House ballroom. After joking about keeping the FIFA World Cup trophy and an Olympic gold medal, the US President now says Wall Street will have to "fight like hell" to get its iconic opening bell back.

US President Donald Trump on Monday (Jul 6) declared that he was stealing an iconic relic from Wall Street. The 47th POTUS on Monday became the first president to ring the Wall Street’s opening bell from the Oval Office while marking the first trading day of his so-called "Trump accounts". Notably, this is not the first time Trump has gotten fascinated by a golden object and has decided to keep it for himself. Last year, the US President quipped his desire to possess the solid-gold World Cup trophy, which now remains proudly displayed in the Oval Office. He also made a nearly identical joke last month during his Wisconsin visit, when Olympic speed skating champion Jordan Stolz draped one of his gold medals around the president’s neck. Also read | Trump admits he's worried about breaking America's heaviest President record: 'I have to be careful...' 'They're gonna have to fight like hell to get it back' Trump said it not once but twice that he's "not giving it back". once in the Oval Office, and a second time during a Rose Garden lunch in front of guests such as MAGA rapper Nicky Minaj, whom he described as "so hot and so great." "There’s the bell right there," he beamed, adding that they'll have to "fight like hell to get it back". "It’s so beautiful, I’m not giving it back. I don’t know if it’s supposed to go back, but they’re gonna have to fight like hell to get it back." A video of the moment is going viral on social media. Check it out here:

Donald Trump has found a new trophy for his White House ballroom. After joking about keeping the FIFA World Cup trophy and an Olympic gold medal, the US President now says Wall Street will have to "fight like hell" to get its iconic opening bell back.

Trump 'steals' Wall Street relic, says they'll have to 'fight like hell' to get iconic heirloom back | Watch

U.S. President Donald Trump's tendency of naming things after himself continues unabated. On Thursday, the White House launched the 'Trump Accounts' mobile application ahead of the programme's formal rollout on July 4. Catering to children aged under 18, it is aimed at encouraging long-term investment from an early age.

White House Unveils 'Trump Accounts' Mobile App Ahead Of July 4 Rollout

A new application will be available on May 28, which is the Trump accounts. This will allow parents to track the IRA-style savings accounts for children. These are “historic new savings accounts” created under the “one big beautiful bill”. The White House made the announcement on Wednesday. In a social media post on the platform X, White House said that the account will allow people to “Manage everything. Watch the growth. All in ONE place.” The app, which has been built by Bank of New York Mellon (BNY) and Robinhood Markets Inc. (HOOD), will be available on the Apple Store and Google App Store.<h2>What are the Trump accounts?&nbsp;</h2>The Trump accounts app is a way for users to register for Trump accounts. Trump accounts are a unique hybrid of IRA and private savings account. This allows individuals, such as parents, guardians and other authorised figures to establish a new type of savings account for the children who are under the age of 18. These accounts are deferred from tax and will feature a contribution of $1000 &nbsp;for children born between Jan 1, 2025, and Dec 31, 2028, with valid social security numbers. Parents can manage a retirement-style savings account, maxing out to $5000 per child. The initiative is heavily supplemented by private endowments, notably a $6.25 billion donation from Dell Technologies CEO Michael Dell and his wife, Susan.&nbsp;The accounts will officially launch on July 4. Interestingly, every dollar, including the pilot federal fund, seed funding and parents' investment, will be automatically invested in an S&amp;P 500 index exchange-traded fund (ETF). The program is for low-middle-income parents, and account holders will also be provided with Financial literacy material.&nbsp;According to the US Treasury, the $1,000 alone could grow to roughly $5,800 by age 18 and nearly $200,000 by age 55 without additional contributions. The account manager will have no say on selecting individual stocks, sectors, or custom investments. This setup is designed for a long-term hands-off investment strategy to maximise the child's future retirement.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-midterms-iran-deal-ken-paxton-texas-primary-1779946206827">Trump says he ‘doesn’t care about midterms’, claims Iran desperate for deal</a><h2>Problems with Trump accounts</h2>The White House frames the Trump accounts as giving every newborn child a head start. But there are major criticisms of the Trump accounts. In December, US Treasury Secretary Scott Besent said that this could be a replacement for the government-funded retirement benefits. Critics pointed out that it was a backdoor to “privatising the social security”. While some have called this “well-intentioned”, others have called this another strategy to draw wealth from lower and middle-income parents to the ultra-rich. Defaulting public funds into Wall Street Indexes boosts the profits of corporate shareholders. The Tax Foundation said that it “adds another layer to an already overcomplicated savings account system”. Many lower-middle-income parents will lack the funds to max out the private $5000 deposit limit to access the maximum tax advantage. Meaning the maximum tax advantage will favour wealthier families who will be able to invest the maximum $5000 each year. Critics argued that this hardly levels the playing field, instead tilting it in favour of those who already have the means.&nbsp;&nbsp;&nbsp;

The Trump Accounts app launches on May 28, allowing parents to manage tax-deferred child savings accounts invested in S&P 500 ETFs. Here’s how it works and why critics are concerned.

A new application will be available on May 28, which is the Trump accounts. This will allow parents to track the IRA-style savings accounts for children. These are “historic new savings accounts” created under the “one big beautiful bill”. The White House made the announcement on Wednesday. In a social media post on the platform X, White House said that the account will allow people to “Manage everything. Watch the growth. All in ONE place.” The app, which has been built by Bank of New York Mellon (BNY) and Robinhood Markets Inc. (HOOD), will be available on the Apple Store and Google App Store. What are the Trump accounts? The Trump accounts app is a way for users to register for Trump accounts. Trump accounts are a unique hybrid of IRA and private savings account. This allows individuals, such as parents, guardians and other authorised figures to establish a new type of savings account for the children who are under the age of 18. These accounts are deferred from tax and will feature a contribution of $1000 for children born between Jan 1, 2025, and Dec 31, 2028, with valid social security numbers. Parents can manage a retirement-style savings account, maxing out to $5000 per child. The initiative is heavily supplemented by private endowments, notably a $6.25 billion donation from Dell Technologies CEO Michael Dell and his wife, Susan. The accounts will officially launch on July 4. Interestingly, every dollar, including the pilot federal fund, seed funding and parents' investment, will be automatically invested in an S&P 500 index exchange-traded fund (ETF). The program is for low-middle-income parents, and account holders will also be provided with Financial literacy material. According to the US Treasury, the $1,000 alone could grow to roughly $5,800 by age 18 and nearly $200,000 by age 55 without additional contributions. The account manager will have no say on selecting individual stocks, sectors, or custom investments. This setup is designed for a long-term hands-off investment strategy to maximise the child's future retirement. Also Read: Trump says he ‘doesn’t care about midterms’, claims Iran desperate for deal Problems with Trump accounts The White House frames the Trump accounts as giving every newborn child a head start. But there are major criticisms of the Trump accounts. In December, US Treasury Secretary Scott Besent said that this could be a replacement for the government-funded retirement benefits. Critics pointed out that it was a backdoor to “privatising the social security”. While some have called this “well-intentioned”, others have called this another strategy to draw wealth from lower and middle-income parents to the ultra-rich. Defaulting public funds into Wall Street Indexes boosts the profits of corporate shareholders. The Tax Foundation said that it “adds another layer to an already overcomplicated savings account system”. Many lower-middle-income parents will lack the funds to max out the private $5000 deposit limit to access the maximum tax advantage. Meaning the maximum tax advantage will favour wealthier families who will be able to invest the maximum $5000 each year. Critics argued that this hardly levels the playing field, instead tilting it in favour of those who already have the means.

The Trump Accounts app launches on May 28, allowing parents to manage tax-deferred child savings accounts invested in S&amp;P 500 ETFs. Here’s how it works and why critics are concerned.

Trump-backed savings app for children launches soon: All you need to know

trump-accounts

Trump Accounts, News on Trump Accounts, stories on Trump Accounts, articles on Trump Accounts, Trump Accounts stories at Wion, Trump Accounts news, Trump Accounts latest news

trump accounts

Trump 'steals' Wall Street relic, says they'll have to 'fight like hell' to get iconic heirloom back | Watch

White House Unveils 'Trump Accounts' Mobile App Ahead Of July 4 Rollout

Trump-backed savings app for children launches soon: All you need to know