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Trump Accounts could draw $100B in private commitments, investor says
Fox Business • • business
Key Points:
- Corporate America is strongly supporting the Trump Accounts program, with Altimeter Capital CEO Brad Gerstner predicting it will attract over $100 billion in private commitments within the next year from businesses and philanthropists.
- The initiative is a public-private partnership designed to combine government investment with private contributions to fund investment accounts for American children in schools, communities, and states nationwide.
- BNY CEO Robin Vince emphasized the program's goal to increase stock market participation among Americans, noting that 40% currently do not invest directly and highlighting the benefits of early and regular investing.
- Many companies, including BNY, are matching contributions for their employees' children, encouraging families to start investing early to maximize account growth through compounding.
- The program has garnered significant early momentum, with tens of billions of dollars in commitments already secured but not yet announced.
