The man who headed Trump Accounts said President Donald Trump wants to automatically open accounts for all American children.

In an “All-In Podcast” interview published Saturday, Altimeter Capital CEO Brad Gerstner talked about the early success of Trump Accounts and how Trump wants to increase its adoption.

“In fact, the president suggested that we would automatically create accounts for the 50 million (or more than 70 million) children under the age of 18,” Gerstner said.

“That’s why he called on us to open the accounts faster, for more people, to have more impact and make sure that no child is left behind,” he added.

Gerstner was one of the architects of Trump Accounts, an investment vehicle for children under 18 that gives them early access to the stock market. Eligible newborns born between 2025 and 2028 will receive $1,000 deposited into their accounts from the U.S. Treasury.

Currently, the program is optional and requires parents to create accounts for their children by submitting an IRS Form 4547 with their tax returns or online through the Trump Accounts website or app.

Later in the interview, one of the podcast’s hosts, angel investor Jason Calacanis, asked whether Gerstner would follow Trump’s instructions to automatically create accounts using the Social Security numbers of people under 18.

Gerstner responded that the team’s intention was to create up to 70 million accounts “over the course of the next 90 days using all of this data.”

But they needed to work with the Treasury, the White House and the Social Security Administration to get it done, he said.

The Trump Accounts launched on July 4, and private donors such as Michael and Susan Dell and SpaceX President Gwynne Shotwell contributed millions to the accounts. Companies such as Goldman Sachs, Micron and Bank of America have pledged to contribute to the accounts of their employees’ children.

In an X post on Thursday, the White House wrote that American families contributed nearly $125 million to Trump Accounts in the first five days of its launch. Gerstner stated during the All-In interview that in total “more than a billion dollars” have been deposited into the accounts.

Researchers and think tanks have urged an automatic enrollment structure for accounts since they were announced last year.

The Urban Institute think tank said in a January article that opt-in programs have historically had low participation rates, particularly among low-income families.

And a September study published by the Center for Social Development at the University of Washington Brown School wrote that automatic enrollment “would allow the policy to avoid the high costs and low participation rates of programs with voluntary enrollment structures.”

The White House did not respond to a request for comment from Business Insider.