Former White House AI and crypto czar David Sacks urged artificial intelligence companies to contribute to Trump Accounts, arguing that giving children a financial stake in AI could strengthen public support for the technology.
Sacks Pushes AI Ownership
On Tuesday, in a post on X, Sacks said Trump Accounts could make children "a direct owner in the American economy" and called on AI companies to follow the example set by Space Exploration Technologies Corp. (NASDAQ:SPCX) President Gwynne Shotwell.
"I hope every AI company will follow the lead of @Gwynne_Shotwell @SpaceXAI and give American kids a vested interest in their success," Sacks wrote.
He argued that such contributions "would do much to improve the public’s image of AI."
Sacks also praised Altimeter Capital founder and CEO Brad Gerstner, Sen. Ted Cruz (R-Texas) and Dell Technologies Inc. (NYSE:DELL) CEO Michael Dell for helping create the program.
He said he participated in an event where dozens of CEOs expressed interest in making contributions.
Trump Praised Shotwells’ Donation
Last month, Trump thanked SpaceX President and her husband, Robert Shotwell, for their $325 million SpaceX stock donation to Trump Accounts.
The couple pledged one share of SpaceX stock for each of more than 2 million American children, with the shares to be held until the children turn 18. Trump praised their "extreme generosity."
Support for Trump Accounts
Earlier, Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev said Trump Accounts gave children access to the S&P 500 through a low-cost State Street ETF, aiming to make investing accessible from birth and benefit from compound growth.
Bill Ackman praised the accounts as one of Trump’s strongest initiatives, saying they echoed his own proposal to give American babies money to invest.
He called avoiding the accounts because of Trump’s name "stupid" and argued that broader stock-market participation was essential because "Wages cannot compound as quickly as stocks."
Personal finance expert George Kamel said the accounts could teach families the value of early investing.
He opened Trump Accounts for his two children and said he planned to contribute another $3,000 to his son’s account, estimating it could grow to nearly $500,000 or more by age 65.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Login to comment