Nicki Minaj Donates to New Child Investment Program
WASHINGTON — Rap artist Nicki Minaj is set to contribute hundreds of thousands of dollars to create $1,000 tax-advantaged investment accounts for her fans’ newborns, as part of a new initiative by the Trump administration launching this year.
Minaj will join President Trump, Treasury Secretary Scott Bessent, and others at the Trump Accounts Summit on Wednesday to promote this tax-deferred retirement account program aimed at children.
Her donation might range between $150,000 to $300,000 to help establish the Baby “Barbs” account, although sources mention the final amount is still being determined. She is expected to announce this alongside Trump advisor Alex Brucewicz, who has developed a close rapport with Minaj.
“I absolutely love the Barbs,” Minaj, 43, expressed in a statement. “I want to see them bring healthy, successful children into the world. Becoming a mother was the best thing that ever happened to me, and I want others to experience that same joy.”
She also mentioned, “I know raising children can be tough financially, so I will do whatever I can to support them.”
As per the newly launched program, every child born between January 1, 2025, and December 31, 2028, will receive $1,000 from the Treasury Department for their account. Parents and employers are allowed to contribute an additional $5,000 and $2,500 per year, respectively, until the child turns 18, with funds being inaccessible until then.
Minaj, whose net worth is reportedly over $190.5 million, hopes that her participation in this initiative will enhance the financial literacy of future generations.
“This program will help bridge the gap in future prosperity for children who are unbanked compared to those who are not,” she noted. “I believe it will have a significant impact on urban communities that face unique financial challenges.”
In previous interviews, Minaj has shared her experiences growing up in a financially struggling family after immigrating from Trinidad, reflecting on the struggles she faced to provide for her family.
Notably, she’s included among several supporters in this initiative who are contributing to the MAGA baby accounts.
Treasury Secretary Bessent mentioned that contributions could begin on July 4, 2026. Other notable figures like Michael and Susan Dell have also pledged substantial contributions, with the Dells announcing a donation of $6.25 billion aimed at assisting young children born before 2025.
Hedge fund manager Ray Dalio recently donated $75 million for the effort in Connecticut, while companies like BlackRock, Visa, and Mastercard have also committed to donations.
The accounts, included in President Trump’s One Big Beautiful Bill, were passed by Congress and signed into law last Independence Day. They will be accessible through a new IRS form, Form 4547, named after the president, with registration details expected to be posted on the Treasury Department’s website in May.
According to Bessent, donation collections can commence on July 4, 2026.
