Robinhood wants US newborns larping into stocks
Robinhood wants newborns in the United States to larp into the S&P 500 with brokerage accounts topped up with $1,000 from the US government.
Robinhood CEO Vlad Tenev said the company wants to deliver these accounts to over 3.5 million newborns each year, and that it can do it under budget.
Tenev addressed the project during discussions about the Invest America Act. The legislation would provide every newborn with $1,000 to invest in the S&P 500 through a so-called “Trump account” that they can access when they’re 18.
Robinhood told Protos it would provide the “technology and capital resources” for the project.
Read more: Robinhood re-lists SOL at $216 one year after forcing users to sell for $16
The investment firm showed off a concept account that implied users could make $825,564 by the age of 30 if they save from the age of 18.
Meanwhile, Invest America, the lobbying group behind the initiative, said it could make every child $50,000 richer based on a $750 yearly top-up from friends and family.
By Robinhood’s calculation of 3.5 million children per year, the US government would shell out at least $35 billion over 10 years.
Despite all of Robinhood’s enthusiasm for the initiative, it won’t see itself on the S&P 500 as it was blocked from the stock index yesterday. Reuters reports that its stock decreased by 6% on Monday.
The child trading accounts were discussed at a White House summit with Donald Trump and executives from the likes of Dell, Goldman Sachs, and Uber. The Invest America Act will be included in a reconciliation bill that serves as a follow-up to Donald Trump’s One Big Beautiful Bill.
Update June 10, 16:54 UTC: Updated the article for clarity and included a quote from Robinhood.
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