The architect of Trump Accounts wants the program expanded to every American under 40

Brad Gerstner, founder and CEO of Altimeter Capital, wants Trump Accounts expanded to Americans under 40.

Bloomberg/Getty Images Investor Brad Gerstner wants Trump Accounts expanded to every US citizen under 40.

The plan would create early IRAs that employers and donors could fund.

Gerstner, regarded as the architect of Trump Accounts, said the change would require new legislation.

Brad Gerstner , the investor and architect of Trump Accounts, is pushing to expand the investment accounts beyond children and make them available to every US citizen under 40.

In an interview with CNBC on Wednesday, Gerstner said the change would require new legislation rather than a regulatory rule change.

Trump Accounts are tax-advantaged investment accounts created under President Donald Trump’s tax-and-spending law.

Right now, they are available to Americans under 18, while children born between 2025 and 2028 are eligible for a $1,000 federal seed contribution.

When account holders turn 18, the accounts become traditional individual retirement accounts, or IRAs.

"Every year, 3.7 million kids age up into IRAs," Gerstner said.

"Why not pull forward 20 years of IRAs? We can create all of those today, everybody under 40." Gerstner's idea would create the accounts for adults under 40 without necessarily requiring the government to make an upfront deposit.

Instead, he said, it would give employers, philanthropists and companies a ready-made vehicle through which to contribute.

That structure could allow companies or private citizens to contribute to accounts, he said, creating a "vessel" for the funding.

On Monday, Elon Musk said he planned to give one share of SpaceX stock to every American child through Trump Accounts.