Politics
Trump launches child investment scheme amid warnings on AI jobs and wealth inequality
July 13, 2026 at 06:28 PM · Updated 96d ago
Coverage
2 reports · 1 in Arabic, 1 in English · over 15 hours
President Donald Trump has announced a $1,000 government contribution for newborns, as technology executives warn of AI-driven job losses and commentators highlight the concentration of stock wealth.
- Trump announced the "Trump Accounts" initiative, giving $1,000 to each child born between 2025 and 2028.
- Dario Amodei, CEO of Anthropic, predicted that AI could eliminate up to half of entry-level office jobs within five years.
- Financial Times columnist Rana Foroohar stated that the richest 10% of Americans own 93% of stock wealth.
Latest developments
- More than 200 economists and AI researchers, including 16 Nobel laureates, have signed an open letter organized by Stanford University warning that AI could drive a transformation larger than the Industrial Revolution and urging immediate preparation.