Trump orders creation of US sovereign wealth fund, says it could buy TikTok
Posted: Feb 03, 2025
- President Trump signed an executive order to create a sovereign wealth fund
- Fund may purchase TikTok
- U.S. Treasury and Commerce Departments involved in fund creation
- Purpose of fund is to monetize U.S. assets for American people
- Fund's operation details unknown but could be funded by tariffs
- Over 90 such funds across the world with over $8 trillion in assets
- TikTok briefly taken offline before a law requiring sale or ban
- Trump in talks over TikTok purchase, decision expected in February
- President Trump has ordered the creation of a U.S. sovereign wealth fund that may purchase TikTok.
- The fund will be set up within the next 12 months and will monetize assets for the American people.
- Details on how the fund will operate and be financed are not yet available.
- TikTok, with 170 million American users, faced potential disruption due to national security concerns.
- Trump aims to make a decision on TikTok's future in February.
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