Michael Dell committed $6.25 billion to children’s accounts

Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

1. 1:04:03

   I heard about this idea in 2021 from Brad. And I thought, you know, that's just a great idea. That's an awesome idea. And, you know, I think there were some discussions with the prior administration, but they didn't do anything about that, unfortunately. And, you know, here we are, you know, a miracle. You know, the Invest America Act was passed and, you know, now we have thousands of companies that are joining in and matching the government's contribution.

2. 1:04:40

   And, you know, Susan and I made a big announcement giving $250 to 25 million children in zip codes where the median income is. I mean, Michael, let's just pause for a second here. This is one of the greatest... What do you think, Bernie? Do you approve? I can go with J. Cal. I just want to pause on this because it is one of the greatest philanthropic gifts in the history of humanity. And people have just kind of glossed over to it because there's a lot of big numbers in the world.

3. 1:05:17

   But we're talking about, you personally, you and Susan, sat down and said, we're going to give a number. And that number was $5, $6, $7 billion? dollars or this is well it's it's 250 to 25 million children ages 2 to 10 in zip codes where the median income is 150 000 or less it's it's 6.25 billion dollars i mean and i just want to say something you know we live at a time where but they have to sign up to claim the accounts yes they have accounts but they have to sign up to claim the accounts you know i think we're getting a hundred thousand plus kids now a day signing up yeah first thanks for having me up yeah i mean what what a national hero and national asset that my friend michael dell is but he understates this because i've been working on this for four years we've been talking about it on the

4. 1:06:13

   all-in pod we had a lot of momentum but behind the scenes trump gets elected um and so it's april that we're in the middle of the tariff strife April 25 we realize there's only going to be one piece of legislation that gets passed during Trump's first two years it'll be the you know this big beautiful bill the reconciliation bill and so I I call up Michael and I said Michael we got to go we've got five days we have the it's drafted in the Senate we have bipartisan support but we have a window and like we have I have to get in the Oval Office we have to get in the Oval office and you know michael said you know what what should the text say and you and i had a conversation and you you know uh but you know the text to djt yes i'm not talking out of school listen biden wherever you sit on the political divide i will say i've said this trump seeks out

5. 1:07:13

   ideas from business leaders and he has deep respect for business leaders like michael dell like wherever your politics are that's just the truth and the last administration didn't and you know if it was may have done the same thing and this and I just have to say this invest America it's not a red idea or a blue idea it's a red white and blue idea right so into the prior conversation when Michael and I first talked about it you know it was this is the right thing to do right like we have to reconnect the 70% of people who feel left out and left behind to the American dream, right? But this isn't our self-interest. This is about defending the ownership society and capitalism that for 250 years, created the greatest experiment in the history of the world, but that's at risk. Less than half people under the age of 40 have a favorable view of capitalism. So when I talked to you about it

6. 1:08:10

   the first time, Michael understood both sides of it. It's the right thing to do, and it's the right thing for the country. And so at any rate... Michael Dell, tremendous American. I have one,