Trump Accounts: 1.5M accounts in 24 hours
Over 1.5 million Trump Accounts were created and over $1 billion in deposits were made within the first 24 hours of the app going live on July 4th.
Snapshot · All-In with Chamath, Jason, Sacks & Friedberg
More Trillion Dollar IPOs, Anthropic $3T, Zuck's Price War, China Ends Open Source?, Trump Accounts
Explore episode
Jul 11, 2026
Where this was said
Trump Accounts launch, getting young Americans bought back into capitalism
At 1:07:16 · chapter starts 1:03:09
Sacks pivots from the philanthropy narrative to what he thinks is an underappreciated story: Trump Accounts are among the most powerful tax-advantaged vehicles ever created in America. He walks through the full stack: donate up to $5,000 per year per child, with family, friends, and employers all eligible to contribute. The account compounds tax-free until 18. Employers can contribute $2,500 tax-free to an employee's child's account — a no-brainer for both parties. At 18, the child can roll it into an IRA or, better yet, a Roth IRA. The optimal move, per the CPAs Sacks has been reading: wait until the child is no longer a dependent and is in the 0% tax bracket — probably in college or just after graduation — and do the Roth IRA conversion at minimal cost. A $200–300K account at age 18 compounds to over $10 million by age 60 at historical market rates. The account also allows penalty-free withdrawals for home down payments, health emergencies, college, and business startup. Maxed out with contributions from friends, family, and employer, Sacks says Sacks, if a Trump account had been maxed out using historical market returns, the child would be a millionaire by age 28. He summarizes: this is like getting an IRA at birth, which is something that has never before been possible in America.
Trump Accounts: 1.5 Million Accounts, $1 Billion Deposited in 24 Hours
The Trump Accounts app went live on July 4th and hit 1.5 million accounts created and over $1 billion in deposits in the first 24 hours alone. Every account invests in the S&P 500, costs nothing, and is free for the child's lifetime. President Trump has now directed the team to auto-create accounts for all 50–70 million eligible children.
Trump Account: $50K at 18 with $10/week savings
Starting with $1,000 at birth and saving just $10 a week into an S&P 500-indexed Trump Account yields approximately $50,000 by age 18.
Dell / Shotwell philanthropy: $6B+ committed
Michael and Susan Dell anchored philanthropy for Trump Accounts with $250 contributions for 25 million children, while Gwynne Shotwell donated $350 million of SpaceX shares for lower-income kids.
Brad's $100M Bet on Indiana's Kids
Brad Gerstner committed $100 million to fund Trump Accounts for all children in Indiana — a number that dwarfs anything he's done philanthropically before. He believes Trump Accounts could raise $100 billion in the first 12 months and become the largest direct philanthropic platform in American history.
Trump Account philanthropy target: $100B in year one
Brad Gerstner told the president they believe they can raise $100 billion in philanthropic contributions to Trump Accounts within the first 12 months.
The Tax Playbook: Why Every Family Must Max Out a Trump Account
Trump Accounts are better than an IRA: tax-free compounding from birth, employer contributions up to $2,500 tax-free, philanthropic contributions from friends and family, and a Roth IRA rollover at conversion — ideally when the kid is in the 0% bracket. Maxed out, the account could reach $200–300K by age 18 and compound to $10M+ by 60.
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