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Reuters
US President Donald Trump announced on Wednesday that semiconductor manufacturer Micron Technology will invest $250 million in the newly launched “Trump Accounts” programme, describing it as the largest corporate commitment yet to the initiative aimed at providing financial support for American children.In a post on Truth Social, the two-time US President said the investment would help millions of children and families build long-term financial security and called it a major endorsement of his economic agenda.Also Read | Micron, GM sign semiconductor supply agreement for vehiclesAccording to Trump, Micron chief executive Sanjay Mehrotra has committed the funds to the programme, which was introduced as part of a broader effort to encourage savings and investment for future generations.”This is the biggest corporate investment of its kind,” Trump wrote. “Micron is investing directly in the American worker and family! This is exactly what the fabulously successful Trump Accounts were created to do — give every American child a headstart, and a real chance to succeed.”The businessman-turned-politician used the announcement to highlight what he called the success of his administration’s economic policies, arguing that major companies are increasingly investing in the United States despite global economic uncertainty.Also Read | Micron overtakes Meta in market value amid relentless AI infrastructure demand“My policies are working, and working big,” he wrote.The White House has promoted the Trump Accounts programme as a vehicle to expand financial participation among younger Americans.
Micron unveils employee benefits & more
In a separate statement, Micron said the $250 million commitment is being made to mark the United States’ 250th anniversary and is expected to support up to one million children through long-term savings opportunities under Trump Accounts, also known as 530A Accounts.As part of the initiative, the chipmaker will introduce an employee benefit that matches contributions of up to $1,000 per child for employees with children under the age of 18.The Idaho-based company will also make one-time seed deposits of $250 into Trump Accounts for eligible children in communities where it operates, including Idaho, New York, Virginia, California, Colorado, Minnesota and Texas.Micron said most of the funding will be directed towards children and families living in regions where the company has operations, with the aim of expanding long-term financial opportunities for the next generation.The investment comes in addition to Micron’s previously announced plan to invest more than $200 billion in US semiconductor manufacturing and research and development, an initiative the company says will create over 90,000 jobs across the country.Chief executive Sanjay Mehrotra said the company viewed investment in people as being just as important as investment in technology.“As America celebrates its 250th anniversary, this investment is about helping children build a strong foundation for future opportunity while supporting the workforce and communities that will shape U.S. semiconductor leadership. We appreciate President Trump and Secretary Bessent for establishing these accounts, which give Micron another meaningful way to support children and families as they plan for the future,” he added.(You can now subscribe to our Economic Times WhatsApp channel)
Micron TechnologyTrump Accounts programmeDonald Trump investmentsemiconductor investmentfinancial support for childrenSanjay MehrotraAmerican worker investmenteconomic agenda Trumpfinancial securitycorporate commitment
(You can now subscribe to our Economic Times WhatsApp channel)
Micron TechnologyTrump Accounts programmeDonald Trump investmentsemiconductor investmentfinancial support for childrenSanjay MehrotraAmerican worker investmenteconomic agenda Trumpfinancial securitycorporate commitment
