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 lend support of the Trump administration 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 to our free-market, wealth-generating economy.”

“Steak ‘n Shake is committed to supporting our children of employees with a $1,000 match to (Trump Accounts) for each 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 Steak ‘n Shake location is shown here. (iStock)

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

“Our president, Sardar Biglari, has lived the American dream,” the spokesman said. “He started with $15,000 and went on to build Biglari Holdings, the company 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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President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, DC on January 28, 2026. (Valerie Plesch/Bloomberg via Getty Images)

“It has given franchisees the ability to live american dreamas they are chosen solely for their talent,” the spokesman said. “And now he is proud to support the children of our employees.”

“Maybe they’ll have the seed capital to build their own businesses one day, if they want to,” he added.

President Trump launched the Trump Accounts initiative on Wednesday and encouraged American businesses to contribute to employee 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 that roughly 25 million families will be eligible, Reuters reported.

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Treasury Secretary Scott Bessent, left, and rapper-singer-songwriter Nicki Minaj listen as President Donald Trump delivers remarks about the Trump accounts in Washington, DC, on January 28. (Brendan Smialowski/AFP via Getty Images)

The US Treasury It is estimated that approximately 25 million families will be eligible.

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

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Rapper Nicki Minaj also reportedly intends to contribute up to $300,000 to help fund Trump’s accounts for his fans.

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

Madison Colombo of FOX Business contributed to this report.