President Donald Trump has signed an executive order directing the U.S. Treasury and Commerce Departments to establish a sovereign wealth fund and potentially acquire TikTok. Treasury Secretary Scott Bessent announced plans to launch the fund within the next year, aiming to leverage U.S. assets for the benefit of the American people. The fund’s operations and funding sources remain unclear, but Trump has suggested using tariffs and other means to finance it. Sovereign wealth funds, which manage trillions of dollars globally, typically rely on budget surpluses, whereas the U.S. operates at a deficit. TikTok, with 170 million U.S. users, faced a deadline to be sold due to national security concerns, but enforcement was delayed by Trump’s executive order. Discussions are ongoing regarding the app’s potential acquisition, with a decision expected in February.
