Billionaires Michael and Susan Dell pledged $6.25 billion on Tuesday to provide an incentive to families to adopt new investment accounts for children. NEW YORK (AP) — Billionaires Michael and Susan Dell pledged $6.25 billion Tuesday to provide 25 million American children 10 and under an incentive to claim the new investment accounts for children created as part of President Donald Trump’s tax and spending legislation. “We would like to see this idea continue and get better over time, just like any big policy,’ said Boshara, who co-edited the book “The Future of Building Wealth.” “The ACA, Social Security – they start off fairly flawed, but get much better and more progressive and inclusive over time. Brad Gerstner, a venture capitalist, who championed this legislation, said the accounts will give all children renewed hope in the American dream. The accounts will become available in the midst of a midterm election, providing money to millions of voters — and a campaign talking point to GOP candidates — at a critical time politically.

Michael and Susan Dell donate $6.25 billion to encourage families to claim ‘Trump Accounts’

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“To get an edge picking stocks, focus on investments well within your knowledge and ability to evaluate, your ‘circle of competence.'” Thorp popularized the Kelly Criterion for optimal bet sizing in both gambling and investing. Arbitrage strategies.

And, if this autobiography is typical of his writing skill, a masterful storyteller … Readers who like to read the life stories of ambitious, creative, and successful people with fascinating stories to tell should be steered in this book’s direction. “An amazing book by a true icon; Thorp launched revolutions in Vegas and on Wall Street by turning math into magic, and here he weaves his own life lessons into a page turner as hot as a deck full of aces. An intellectual thrill ride, replete with practical wisdom that can guide us all in uncertain financial waters, A Man for All Markets is an instant classic—a book that challenges its readers to think logically about a seemingly irrational world.

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More important, it’s all fun, fascinating and filled with lessons we can all use to be more successful in business and life. Ed Thorp takes us on an incredible journey as we learn how to beat blackjack, roulette, and then Wall Street, stop off to have dinner with a young Buffett, unmask Madoff before anyone else, and so much more. An extraordinary autobiography which reads like a novel and contains insights into what has gone wrong with the financial system along the way. Read this book and learn from a master.” A Man for All Markets chronicles Thorp’s personal journey in navigating the unexpected and sometimes dangerous obstacles that come along with challenging the status quo of a wealthy corporate adversary.”

A Man for All Markets: Beating the Odds, from Las Vegas to Wall Street

Now Thorp shares his incredible life story for the first time, revealing how he made his money and giving advice to the next generation of investors. Sign up for news about books, authors, and more from Penguin Random House “We’re thrilled to be spearheading this in the philanthropy sector and are so excited because we know that more people are going to jump on board because really, we can’t think of a better idea and better way to help America’s children,” she said. Cuts to Medicaid, food stamps and child care that were also included in the spending package are likely to reduce the support children from low-income families receive.

• Thorp emphasized the importance of discipline in executing strategies.
• Want to know what people are actually reading right now?
• “An amazing book by a true icon; Thorp launched revolutions in Vegas and on Wall Street by turning math into magic, and here he weaves his own life lessons into a page turner as hot as a deck full of aces.
• Because federal law allows outside donors to target gifts by geography, the Dells said using ZIP codes was “was the clearest way to ensure the contribution reaches the greatest number of children who would benefit most.”
• Personalized books for kids and adults

What impact did Beat the Dealer have on the gambling world according to A Man for All Markets?

Thorp’s success in both gambling and investing came from identifying and exploiting inefficiencies. Thorp emphasized the importance of discipline in executing strategies. Thorp approached both gambling and investing with a rigorous analytical mindset.

• And so, at its core, we think it can re-energize people’s belief in free market, capitalist democracy,”″ Gerstner said of the accounts.
• Read this book and learn from a master.”
• The Dells hope their gift will encourage families to claim the accounts and deposit more money into it, even small amounts, so it will grow over time along with the stock market.
• Now Thorp shares his incredible life story for the first time, revealing how he made his money and giving advice to the next generation of investors.
• He applied probability theory and statistical analysis to develop groundbreaking strategies in blackjack and investing.
• When the children turn 18, they can withdraw the funds to put toward their education, to buy a home or to start a business.

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Though the “Trump Accounts” became law as part of the president’s signature legislation in July, the Dells say the accounts will not launch until July 4, 2026. The accounts were created as part of President Donald Trump’s tax and spending legislation but have not yet launched. “We believe that if every child can see a future worth saving for, this program will build something far greater than an account.

When the children turn 18, they can withdraw the funds to put toward their education, to buy a home or to start a business. Thorp gained fame for his 1962 book “Beat the Dealer,” which mathematically proved that card counting could overcome the house advantage in blackjack. A child of the Great Depression, legendary mathematician Edward O. Thorp invented card counting, proving that you could do the seemingly impossible—beat the dealer at the blackjack table—and in doing so launched a gambling renaissance.

While the funds in the Trump Accounts may help young adults whose families or employers can contribute to them over time, they won’t immediately help to diminish childhood poverty. In 2024, about 13% of children and young people in the U.S. lived in poverty, according to the Annie E. Casey Foundation, and experts link the high child poverty rates to the lack of social supports for new parents, like paid parental leave. And so, at its core, we think it can re-energize people’s belief in free market, capitalist democracy,”″ Gerstner said of the accounts.

By Edward O. ThorpRead by Edward O. ThorpForeword by Nassim Nicholas Taleb

All the books longlisted for the Financial Times Business Book of the Year Award Personalized books for kids and adults Edward O. Thorp is a mathematics professor, author, hedge fund manager, and blackjack player. About 58% of U.S. households held stocks or bonds in 2022, according to the U.S. Account contributions must be invested in an index fund that tracks the overall stock market. Under the new law, “Trump Accounts” are available to any American child under 18 with a Social Security number.

Thorp’s contributions span academia, gambling, and finance, establishing him as a multifaceted innovator in applied mathematics and probability theory. Readers appreciate his clear writing and valuable investment advice. A Man for All Markets receives praise for its fascinating insights into Thorp’s life, from beating casinos to pioneering quantitative finance.

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They barred him from their premises, instituted new rules, a man for all markets and put his life in jeopardy. Having brushed shoulders with casino mobsters and survived, he shared his secrets with the world, launching a gambling renaissance. Edward O. Thorp rose up from nothing to become a professor at MIT, invented card counting and proceeded to beat the dealers of Las Vegas at blackjack, roulette and baccarat. Want to know what people are actually reading right now?

By Edward O. ThorpForeword by Nassim Nicholas Taleb

Thorp’s success was not just about innate talent, but a commitment to lifelong learning and self-education. Thorp’s journey from academia to gambling and investing was built on a solid mathematical foundation. —Joel Greenblatt, author of the New York Times bestseller The Little Book that Beats the Market

Michael Dell said they had not initially envisioned committing so much to boost the child investment accounts, but Susan Dell said that changed over time. The Dells hope their gift will encourage families to claim the accounts and deposit more money into it, even small amounts, so it will grow over time along with the stock market. The Dells will put money into the accounts of children 10 and younger who live in ZIP codes with a median family income of $150,000 or less and who won’t get the $1,000 seed money from the Treasury.

Because federal law allows outside donors to target gifts by geography, the Dells said using ZIP codes was “was the clearest way to ensure the contribution reaches the greatest number of children who would benefit most.” Announced on GivingTuesday, the Dells believe it’s the largest single private commitment made to U.S. children. However, some find the book self-aggrandizing and criticize the later chapters for basic financial information. He applied probability theory and statistical analysis to develop groundbreaking strategies in blackjack and investing.

Here, for the first time, Thorp tells the story of what he did, how he did it, his passions and motivations, and the curiosity that has always driven him to disregard conventional wisdom and devise game-changing solutions to seemingly insoluble problems. Devising and then deploying mathematical formulas to beat the market, Thorp ushered in the era of quantitative finance that we live in today. Nonetheless gambling was forever changed.