{"id":7436,"date":"2026-03-01T20:44:20","date_gmt":"2026-03-01T20:44:20","guid":{"rendered":"https:\/\/africanamericanvoice.net\/?p=7436"},"modified":"2026-02-23T20:48:32","modified_gmt":"2026-02-23T20:48:32","slug":"the-truth-about-trump-accounts-and-black-wealth","status":"publish","type":"post","link":"https:\/\/africanamericanvoice.net\/?p=7436","title":{"rendered":"The Truth About Trump Accounts and Black Wealth"},"content":{"rendered":"

by\u00a0Dedrick Asante-Muhammad<\/a><\/span>\u00a0and\u00a0LaToya B. Parker<\/a><\/span><\/p>\n

When President Donald Trump launched his new \u201cTrump Accounts\u201d for babies, he surrounded himself with billionaires, big banks, and a surprise guest: rap star Nicki Minaj. Minaj has pledged hundreds of thousands of dollars,\u00a0reported between $150,000 and $300,000<\/a>, to fund Trump Accounts for her fans\u2019 children, the so-called \u201cBarbz babies.\u201d But Trump Accounts are political fool\u2019s gold: shiny and celebrity-studded at the surface, structurally designed to leave most Black children with crumbs while channeling real gains to families who already have wealth.<\/p>\n

Every child born between 2025 and 2028 is eligible for a\u00a0Trump Account<\/a>, a tax-advantaged investment account seeded with $1,000 in public funds if parents opt in. Families, employers, and donors can then contribute up to $5,000 a year, invested in mutual funds and similar products. On paper, the goal is to give every child \u201cskin in the game\u201d and a nest egg for college, homeownership, or retirement.<\/p>\n

But analysts warn that Trump Accounts are likely to\u00a0widen, not close, the racial wealth gap<\/a>. In 2022, the median wealth for Black families was about $44,900, compared with $285,000 for white families. In Trump Accounts, balances grow with both market returns and additional contributions, so the children who gain the most will be those whose families and employers can consistently add thousands of dollars a year. A child whose family maxes out contributions could hold a six-figure account by adulthood; one whose family cannot add beyond the initial $1,000 deposit may end up with only a few thousand dollars.<\/p>\n