“ One of the greatest philanthropic gifts in the history of humanity”: $6.25B to fund investment accounts for 25M American kids 🇺🇸
@Jason:
“ This is one of the greatest philanthropic gifts in the history of humanity.”
“People have just kind of glossed over it because there's a lot of big numbers in the world, but we're talking about you and Susan sat down and said, ‘We're gonna give a number.’ And that number was $5, $6, $7 billion.”
@MichaelDell:
“It's $250 to 25 million children, ages 2-10, in zip codes where the median income is $150,000 or less. It’s $6.25 billion.”
Brad Gerstner (@altcap):
“This is Social Security 2.0. This is the biggest change to the social contract in America in 50 years.”
“3.7 million kids a year will get an account that can compound. It's a 401k from birth.”
“And yes, we're going to have a lot of announcements, but it's not just billionaires.”
“It's going to be companies that are donating stock on their IPOs into these accounts, it's going to be wealthy people, it's going to be states, it's going to be moms and dads, it's going to be corporations.”
“And the estimate is over 15 years, we can move $5 trillion into the pockets of families that would've otherwise had zero.”
@Friedberg:
“If this $5 trillion moved through government programs, it would get incinerated.”
“That's what we see happen. There's just a million crony structures that take it away and destroy it.”
Brad:
“And it unlocks the human potential. It's not just the money. ‘It's that ‘I'm in the game. I have a shot.’”
Michael Dell:
“Invest America, it’s not a red idea or a blue idea. It's a red, white, and blue idea.”