Brad Gerstner, Altimeter CEO, speaking with CNBC on Jan. 28th, 2026 in Washington, D.C.
CNBC
Altimeter Capital CEO Brad Gerstner announced Wednesday a commitment to seed Trump accounts, a type of investment account for kids, for children in his home state of Indiana.
“I’m going to contribute dollars to kids in Indiana,” Gerstner, a hedge fund manager who helped spearhead the Trump administration’s savings initiative, said Wednesday morning on CNBC. He said the money is intended for children under five years old.
There are some 406,000 children younger than age 5 living in Indiana, according to the Census Bureau’s most recent population survey from 2024.
Gerstner also referenced his pledge at a summit on Wednesday with President Donald Trump and Treasury Secretary Scott Bessent to promote Trump accounts, also known as Section 530A accounts. He did not offer additional details on the size of the donation or exactly who would qualify.
Gerstner joins billionaire hedge fund manager Ray Dalio of Bridgewater Associates and Michael Dell, founder and CEO of Dell Technologies, and his wife, Susan, who previously announced pledges.
“We have philanthropists that are going to claim every state,” Gerstner said Wednesday on CNBC.
All children in the U.S. born between 2025 and 2028 already qualify for an initial $1,000 Trump account deposit from the Treasury, which parents can opt into when they open an account.
Children 10 or under and born before Jan. 1, 2025 — who wouldn’t qualify for the $1,000 initial seed money — could get a $250 contribution from the $6.25 billion pledge made by Michael and Susan Dell.
The Dalio grant will fund $250 per child for eligible children in Connecticut. That money will go to kids who live in a ZIP code where the median income is less than $150,000. About 87% of Connecticut ZIP codes meet that criteria, according to a CNBC analysis of Census Bureau data.
Other donors could announce similar gifts as part of the “50-state challenge,” Bessent said at a White House press conference last month.
During Wednesday’s summit, Republican Sen. Ted Cruz of Texas said his state was also “looking to do $1,000 to every account.” He did not provide further details.
A growing list of companies, including JPMorgan Chase, Bank of America, Intel, Chime, SoFi, Charter Communications, BNY, BlackRock, Investment Company Institute, Robinhood and Charles Schwab, have announced they will match the federal $1,000 contribution for employees’ children.
Also on Wednesday, rap artist Nicki Minaj pledged a contribution, which could benefit her fans.
Bessent said 600,000 families have already signed up for Trump accounts since the official start of tax season on Monday.
This is a developing story. Please check back for updates.
