Rap icon Nicki Minaj is making headlines with her generous commitment to support her fans’ newborns through a groundbreaking initiative launched by the Trump administration. She has pledged between $150,000 and $300,000 to fund new $1,000 tax-advantaged investment accounts, known as “Barbz” accounts, aimed at promoting the financial literacy and well-being of children born between January 1, 2025, and December 31, 2028.
Minaj will participate in a summit on Wednesday alongside President Trump and Treasury Secretary Scott Bessent to promote these accounts, which will provide a financial foundation for children and help bridge the socio-economic gap faced by many families. In a statement, Minaj expressed her deep affection for her fan base, stating, “I absolutely love my Barbz. I want to see them bring healthy, and successful children into the world.” Her sentiments reflect her personal experience as a mother and her desire to foster opportunities for others.
Alongside the initial $1,000 contribution from the Treasury, parents can add up to $5,000 per year while employers may contribute an additional $2,500 until the child reaches 18 years of age. These funds will be locked until the child turns 18, encouraging a mindset of savings and investment. Minaj, who has a net worth surpassing $190.5 million, believes this initiative can make a significant impact, particularly within urban communities where financial challenges are prevalent.
She noted, “This program will benefit everyone, decreasing the gap for future prosperity between children who traditionally aren’t born with a full bank account & children who are.” Minaj’s commitment highlights her understanding of financial struggles, reflecting her own upbringing in a family that faced economic hardships after immigrating to the U.S. from Trinidad.
The Trump accounts initiative has garnered support from several prominent figures, including Michael and Susan Dell, who have pledged a significant $6.25 billion, and hedge fund manager Ray Dalio, with a donation of $75 million for children in Connecticut. Corporate giants like BlackRock, Visa, and Mastercard have also joined in, signaling a broad commitment to fostering financial investment in future generations.
This initiative, a feature of the “One Big Beautiful Bill” signed into law last year, underscores a collective effort to instill financial wisdom among the youngest members of society, offering hope for a more equitable future. With the launch of these accounts set to be promoted via a new IRS form starting this summer, Minaj’s participation and financial backing are poised to make a lasting difference in the lives of many families.