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Corporate America is pouring support behind the Trump Accounts program, with Altimeter Capital founder, Chairman and CEO Brad Gerstner predicting the initiative will attract more than $100 billion in additional private commitments over the next year as businesses and philanthropists back the new investment accounts for American children.
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Brad Gerstner joined FOX Business’ Maria Bartiromo on “Mornings with Maria,” where he pointed to what he described as strong early momentum following the program’s launch, saying businesses, philanthropists and families are embracing the initiative.
“We have tens of billions of dollars in commitments we haven’t announced,” Gerstner said. “I said to the president, I think we’ll have $100 billion of additional contributions in the next 12 months.”
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Gerstner said the initiative was designed as a public-private partnership that relies on private contributions alongside the government’s initial investment. He highlighted commitments from corporate leaders and philanthropists, arguing the program allows donors to directly fund investment accounts for children in schools, communities and states across the country.
“It is huge societal ROI and America is unlocking their wallets and pouring a lot of money into these,” Gerstner said.
BNY CEO Robin Vince also joined Maria Bartiromo on “Mornings with Maria” to discuss BNY’s role in launching the program, which is designed to give more Americans access to long-term investing through early saving and the power of compounding.
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“We’ve got 40% of Americans who don’t participate directly in the stock market,” Vince said. “This initiative is about bringing more people to have a stake in the actual capital markets, in the economy and the greatest companies in America.”
Vince said the program encourages families to begin investing as early as possible, arguing that regular contributions over time can significantly increase the value of an account through compounding. He also noted that many companies, including BNY, are matching contributions for eligible employees’ children.
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