Saudi Arabia has a sovereign fund it invests on behalf of its citizens. It’s around 1.3 million/person. Altho’ they don’t accept immigrants. At all. Also. Oil.

Saudi Arabia has a sovereign fund it invests on behalf of its citizens. It’s around 1.3 million/person. Altho’ they don’t accept immigrants. At all. Also. Oil. I would like to see the American billionaires like Gates and Ackman et al combine their millions to start the fund. Perhaps they could pick people by lottery. It should be interesting. Honestly..govt funded housing for all, free education and universal medical as social safety net would solve inequality rather than this. But can it easily be achieved with the same $26 billion/year budget quoted. It’s actually not a bad idea that’s suggested as long as it doesn’t involve tax squeezing the middle class or those in an age group who get no benefit from this scheme. It can still be done if people start saving from the time they know they learn of pregnancy. In India..back when I was a kid..there were many govt backed programs like this. Starting from a fixed deposit amount at birth with cumulative interest that you can’t break till the child turns 21. There were wedding bonds, education bonds etc. they were backed by the govt and also recurring ones where you can pay at the post office. In rural areas, they’d come home every month to collect from the villagers. This was especially popular as gifts for girl children as female foeticide was prevalent and often due to poverty. Knowing that the child had enough money as an adult to be independent made her less vulnerable. Often relatives pooled in money for these bonds. In one of the family homes I visited in the village, I met an elderly woman who said that back when(before independence), the practice was to plant fruit trees or hardwood trees..she suggested that in modern times, mothers should plant ten mango tree saplings or ten coconut trees every year on the girl child’s birthday. They deliver dividend every year w/fruits and will be a valuable orchard by the time she’s 18..which was the legal age to be married in India at that time and they certainly expected to marry off their girls by that time.