Trump Pushes Automatic Enrollment for Children in New Investment Program

Altimeter Capital chief executive Brad Gerstner said President Donald Trump wants to automatically open investment accounts for all American children, potentially reaching 70 million minors. In an interview on the All-In Podcast, Gerstner explained that the president asked the team to accelerate account creation to ensure broader coverage.

"In fact, the president suggested that we're going to auto-create accounts for all 50 million kids — or upwards of 70 million kids — under the age of 18," Gerstner said.

Trump Accounts, launched on July 4, provide a $1,000 Treasury deposit to eligible newborns born between 2025 and 2028. The program currently operates on an opt-in basis, requiring parents to submit IRS Form 4547 or register online. Gerstner indicated the goal is to generate up to 70 million accounts within 90 days, contingent on coordination with the Treasury, the White House and the Social Security Administration.

Private donors, including Michael and Susan Dell and SpaceX president Gwynne Shotwell, have contributed millions, while firms such as Goldman Sachs, Micron and Bank of America have pledged to fund employees' children's accounts. An X post from the White House noted that families contributed nearly $125 million in the first five days, and Gerstner said total deposits have exceeded $1 billion.

Policy analysts have advocated for automatic enrollment, citing research that opt-in schemes often see low participation, especially among low-income families. The Urban Institute and Washington University’s Center for Social Development have both highlighted the potential benefits of auto-enrollment. The White House did not respond to a request for comment.