- Brad Gerstner helped spearhead "Trump Accounts" and said he worked with the Dells on their donation.
- The Altimeter Capital CEO expects a "steady drumbeat" of other donations by companies and philanthropists.
- Other CEOs have pledged to match investments in the accounts of their employees' children.
Michael and Susan Dell's blockbuster donation may be the first of many.
Brad Gerstner, the CEO of technology-focused investment firm Altimeter Capital, told Business Insider that he helped coordinate the Dells' gift, and anticipates that a stream of other business leaders will follow in their footsteps.
On Tuesday, the Dells pledged to invest $250 into the accounts of 25 million American kids, totalling a $6.25 billion donation from their charitable fund. The couple partnered with the Invest America initiative, a federal program better known as "Trump Accounts," which plans to give $1,000 to eligible newborns. Gerstner helped spearhead the effort.
"This is the first time that the whole idea officially entered the American zeitgeist. You can imagine, both of our phones were blowing up, and lots of people were excited," Gerstner said about the day of the Dells' donation. He added that both he and Michael Dell have had conversations with prominent business leaders about the program ahead of its official launch on July 4, 2026.
"I expect you'll hear a steady drumbeat of announcements, not only by philanthropists, but by companies," he said.
Under the Trump Accounts program, the administration plans to provide a one-time$1,000 federal grant to US citizens born between 2025 and 2028. Others can contribute up to an additional $5,000 tax-free to those accounts every year.Gerstner said he's been talking with the Dells, and other philanthropists and companies, about the program for years, and that direct giving has always been a "critical part of the mission."
The Dells' donation will benefit an additional 25 millionchildren born between 2016 and2025 who live in a ZIP code with a median household income of $150,000 or less. Parents of those children will need to open a Trump Account to automatically get a donation from the Michael & Susan Dell Foundation, the Dells told CNBC.
As part of the Invest America CEO Council, 21 business leaders, including Goldman Sachs CEO David Solomon and Nvidia CEO Jensen Huang, have committed to contributing funds to the accounts of their employees' children, according to the Invest America website.
Gerstner said the accounts could function like 401Ks. He thinks the capability for companies to match donations will be "built in" by the program's launch. He began raising the idea for the accounts during former President Joe Biden's administration, but only got it off the ground when President Donald Trump returned to office.
"The Biden administration was a lot more traditional," he said. "The Trump administration is much more entrepreneurial and much more accessible, but I think it ultimately starts with a great idea."
The post Altimeter Capital CEO said his and Michael Dell's 'phones were blowing up' after the 'Trump Accounts' donation appeared first on Business Insider