Donald Trump has announced that the "National Wealth Fund" will be established in the United States within the next year, and that this fund may potentially acquire TikTok. Trump said, "Maybe we'll do something with TikTok, maybe we won't. If we make the right deal, we'll buy it, otherwise, we won't. But I have the right to do this, and whatever we do, we can do it through the 'Sovereign Wealth Fund.'"
Although the executive order provides little detail, it instructs the Departments of Treasury and Commerce to prepare proposals regarding financial mechanisms, investment strategies, fund structure, and management models to create this fund. The departments will have 90 days to draft a plan.
During his campaign, Trump had proposed the creation of such a fund, which he envisioned would finance large projects such as highways, airports, manufacturing, and medical research. The president stated, "We will create great wealth for the fund." He added, "I think it's time for the country to have a Sovereign Wealth Fund. I believe that soon we will have one of the largest funds."
No government officials have yet commented on how the fund will operate or be financed.
Treasury Secretary Scott Bessent stated that the fund would be established within the next 12 months, adding, "We will convert the U.S. financial assets into cash for the American people." He also mentioned that liquid assets within the country will be used in this process.
According to the International Forum of Sovereign Wealth Funds, there are more than 90 such funds worldwide, managing over $8 trillion in assets.
