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Washington, Jul 2 (PTI): Sanjay Mehrotra-led Micron Technologies announced a USD 250 million investment in the Trump Accounts programme, a long-term savings initiative for children, a move that was welcomed by President Donald Trump.

Mehrotra, the CEO of Micron, said as part of this initiative, the company is launching an employee matching benefit for contributions up to USD 1,000 per child under 18.

Additionally, Micron will provide a community benefit of a one-time USD 250 seed deposit for children with Trump Accounts where the company operates in Idaho, New York, Virginia, California, Colorado, Minnesota and Texas.

“This incredible gesture, made by Micron’s fantastic CEO, Sanjay Mehrotra, will make many children extremely happy someday in the not too distant future,” Trump said on Truth Social on Wednesday.

He called it “the BIGGEST CORPORATE Investment of its kind.” A Trump account can be opened for any American child under 18 with a Social Security number.

Individuals, employers and others can deposit money into the accounts, which grow tax-free, like individual retirement accounts. The accounts will be available starting July 4.

Micron said it expected to reach up to one million children with its investment.

“At Micron, we believe investing in people is as important as investing in technology,” Mehrotra said.

Most of the funding will benefit children and families in communities where Micron operates, expanding long-term financial opportunities for the next generation.

The programme complements Micron’s previously announced investment of over USD 200 billion in US memory manufacturing and R&D, creating over 90,000 jobs across the country.

In addition to this initiative, Micron is investing hundreds of millions of dollars across the US to expand access to semiconductor careers through K-12 STEM education, semiconductor curriculum development, AI education, community college and university partnerships, registered apprenticeships and other workforce programmes, a company statement said.

Trump said the Micron investment will help jumpstart the American Dream for these children as the US celebrates the 250th anniversary of its independence.

“This MASSIVE Investment will help MILLIONS of American children and families get a strong start in life, and give them REAL Financial Security. 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 president said.

“My Policies are WORKING, and working “BIG.” Our Country is doing far better than any country, anywhere in the World, and Companies like Micron are proving it every single day,” Trump said.

In December, Michael Dell, the founder of the technology giant Dell, and his wife, Susan, announced a USD 6.25 billion donation to support Trump Accounts. The Dells earmarked their money for children under 10 living in ZIP codes where the median household income was below USD 150,000. PTI SKU GRS GRS GRS

(This story is published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)