Mon Feb 03 19:11:51 UTC 2025: **Trump Orders Creation of U.S. Sovereign Wealth Fund, May Purchase TikTok**
Washington, D.C. – President Donald Trump signed an executive order on Monday establishing a U.S. sovereign wealth fund, potentially using it to acquire the popular video-sharing app, TikTok. Treasury Secretary Scott Bessent stated the fund, aiming to monetize U.S. assets, will be operational within a year. While details on its financing remain scarce, Trump previously suggested utilizing tariffs and other revenue sources. The fund’s creation follows Trump’s earlier proposals during his presidential campaign, advocating its use for national infrastructure projects, manufacturing, and medical research. Globally, over 90 sovereign wealth funds manage over $8 trillion in assets. The move comes after a brief TikTok shutdown preceding a deadline for its Chinese owner, ByteDance, to sell or face a ban due to national security concerns. Trump previously delayed the enforcement of this law and indicated a February decision on TikTok’s future.
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