US President Donald Trump signed an executive order on Monday instructing the U.S. government to initiate the development of a state-owned investment fund, which he suggested could be used to generate profits from TikTok if he succeeds in securing an American buyer, reports AP.
On his first day in office, Trump issued an order granting TikTok until early April to find an approved buyer or partner, while expressing his intent for the U.S. to acquire a 50% stake in the widely popular social media platform. Speaking from the Oval Office on Monday, he pointed to TikTok—currently owned by China-based ByteDance—as a potential asset for the proposed U.S. sovereign wealth fund.
“We could place that in the sovereign wealth fund—whatever we generate—or establish a partnership with highly affluent investors. There are numerous possibilities,” Trump stated regarding TikTok. “But TikTok is an example. There are plenty of other assets we could incorporate into the fund.”
Sovereign wealth funds typically invest in stocks, bonds, and real estate, often financed by budgetary surpluses—something the U.S. currently lacks.
Trump observed that many other countries operate such funds and predicted that the U.S. could eventually surpass the size of Saudi Arabia’s sovereign wealth fund. “Eventually, we’ll surpass it,” he asserted.
Globally, more than 90 sovereign wealth funds collectively manage assets exceeding $8 trillion, according to the International Forum of Sovereign Wealth Funds, a London-based organisation comprising around 50 such entities.
Within the U.S., over 20 sovereign wealth funds operate at the state level, as noted by the Center for Global Development, a Washington-based nonpartisan think tank.
Bd-0pratidin English/Tanvir Raihan
