Key facts
- Brad Gerstner wants Trump Accounts expanded to all US citizens under 40.
- The expansion would require new legislation, not a regulatory change.
- Currently, Trump Accounts are for Americans under 18.
- Elon Musk plans to gift SpaceX stock to children via Trump Accounts.
Brad Gerstner, the investor and architect behind Trump Accounts, is advocating for the expansion of these tax-advantaged investment accounts to all US citizens under the age of 40. In an interview with CNBC, Gerstner stated that this change would necessitate new legislation rather than a regulatory adjustment. Currently, Trump Accounts are available to individuals under 18, with a $1,000 federal seed contribution for children born between 2025 and 2028. Upon reaching 18, these accounts convert to traditional IRAs. Gerstner proposed creating these accounts for adults under 40 without necessarily requiring an upfront government deposit, suggesting that employers, philanthropists, and companies could contribute through a ready-made vehicle. Elon Musk recently announced his intention to gift a share of SpaceX stock to every American child via Trump Accounts, an initiative also backed by other major donors.