Trump’s Tech Endorsement Boosts Dell Stock

President Trump recently encouraged Americans to consider buying Dell computers, leading to a notable surge in the company’s stock, which jumped as much as 7.8% during intraday trading on Monday.

This increase came after Trump praised the company’s founder, Michael Dell, and his wife, Susan, at the unveiling event for the Trump Account, a new savings initiative heavily supported by the Dell couple.

In the Oval Office, Trump expressed admiration for the Dells, describing them as “just amazing” after the ringing of the opening bell on Wall Street.

The Dells have committed over $6 billion to the Trump Account initiative, launched on July 4.

Trump joked about potentially asking Michael Dell for even more funds: “We’re going to get him to give that money back one way or another, and we’re going to ask for another $6 billion… We’re going to start the whole process all over again.”

Earlier this year, Trump’s investment account purchased between $1 million and $5 million worth of Dell stock.

On Monday, Trump announced that the government had made initial deposits of $1,000 into more than 500,000 Trump accounts.

The program provides tax-advantaged investment accounts for children, including a one-time contribution of $1,000 from the Treasury for infants born between 2025 and 2028, with possibilities for companies to contribute further.

Michael Dell, recognized as the fifth-richest individual worldwide with an estimated wealth of $210 billion, touted the initiative as a means to empower millions of American children financially.

“This makes every child a shareholder in the greatest prosperity-producing engine the world has ever known: American capitalism,” Dell noted in a statement over the July 4th weekend.

He further emphasized the program’s role in granting the next generation access to economic rights and opportunities for achieving the American Dream through education, home ownership, and entrepreneurship.

The event attracted numerous Wall Street executives and government officials, including Brad Gerstner, the founder of Altimeter Capital, Treasury Secretary Scott Bessent, SEC Chairman Paul Atkins, NYSE President Lynn Martin, Intercontinental Exchange CEO Jeffrey Sprecher, and Senator Ted Cruz (R-Texas).

Gerstner highlighted the account’s potential to help fulfill “the promise of the American Dream for all, not just some.”

Major financial firms like Goldman Sachs, Morgan Stanley, BlackRock, JPMorgan Chase, Robinhood, and Intel, along with others, pledged to contribute the $1,000 government grants for the children of eligible employees.

Robinhood’s CEO Vlad Tenev remarked that these accounts could be “life-changing.” Meanwhile, SpaceX President Gwyn Shotwell announced he would donate a portion of his company stock to support Trump accounts, benefiting over two million children nationwide.