Steak 'n Shake pledges $1K contributions to Trump Accounts for employees' children

Steak ’n Shake announced Wednesday that it will contribute $1,000 to "Trump Accounts" for the children of its employees.

The Indianapolis-based fast-food chain is the latest company to support the Trump administration’s new investment initiative for newborns. In a post on X, Steak ’n Shake described the program as a way to ensure "the next generation of Americans participate from birth in our free-market, wealth-building economy."

"Steak 'n Shake pledges to support our employees' children with a $1,000 match to [Trump Accounts] for every child born between 2025 and 2028," the company wrote. "Steak 'n Shake has benefited from our country's prosperity, and we are committed to giving back to our communities and our country."

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A company spokesperson told FOX Business the move reflects, in part, the personal philosophy of Chairman Sardar Biglari.

"Our chairman, Sardar Biglari, has lived the American dream," the spokesperson said. "He started with $15,000 and went on to build Biglari Holdings, the enterprise that now owns Steak 'n Shake and other companies."

The spokesperson added that Biglari has long focused on creating opportunities for franchisees based on merit and is now extending that vision to employees’ families.

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"He has given franchisees the ability to live the American dream, as they are chosen for their talent alone," the spokesperson said. "And now he is proudly supporting the children of our employees."

"Perhaps they will have the seed capital to build their own businesses one day, if they so choose," he added.

President Trump launched the Trump Accounts initiative on Wednesday and encouraged U.S. companies to contribute to employees' family accounts, according to Reuters.

Created under Trump’s "One Big Beautiful Bill Act," the program provides a $1,000 federally funded investment account to every U.S. citizen born between 2025 and 2028. The U.S. Treasury estimates roughly 25 million families will qualify, Reuters reported.

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The U.S. Treasury estimates roughly 25 million families will be eligible.

Several major companies have already signaled support. Both JPMorgan Chase and Bank of America have released statements saying they will match the U.S. government’s contribution to the new accounts for eligible employees.

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Rapper Nicki Minaj also intends to contribute as much as $300,000 to help fund Trump Accounts for her fans, according to reports.

Shares of Biglari Holdings are up more than 14% year to date.

FOX Business' Madison Colombo contributed to this report.