Elon Musk said earlier this week that he plans to give every kid in America a share of SpaceX next year, and CEO of Altimeter Capital Brad Gerstner said Wednesday that the stock donations would come via Trump Accounts.
If it happens, that donation of $10.5 billion worth of shares is just the beginning, according to Gerstner, the founder of Invest America and an architect of Trump Accounts, the new tax-deferred investing accounts for kids.
"Elon is the tip of the iceberg," Gerstner told CNBC's "Squawk Box" in an exclusive interview on Wednesday. "This is the most giving country on the planet," he said. "I told the president, I think I can raise $100 billion over the course of the next 12 months to sponsor all of the kids in America." In addition to Musk, Gerstner said he had also talked to "every major tech CEO and founder."
A $100-billion fundraising target would represent about one-sixth of all U.S. charitable giving. Altogether, Americans donated $592.5 billion in 2024, according to the latest data from the National Philanthropic Trust.
Gerstner has also committed about $35 million to help seed the investment accounts for kids in his home state of Indiana.