Trump creates sovereign wealth fund, says it could be used to buy TikTok

Trump creates sovereign wealth fund, says it could be used to buy TikTok


Photo: Alamy

President Donald Trump issued an executive order on Monday directing the U.S. Treasury and Commerce Departments to establish a sovereign wealth fund, which he indicated could potentially acquire TikTok.

TikTok, with approximately 170 million users in the U.S., experienced a temporary shutdown just before a law took effect on Jan. 19. The legislation requires its parent company, ByteDance, to either sell the platform due to national security concerns or face a ban.

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After assuming office on January 20, Trump signed an order aiming to postpone the law’s enforcement by 75 days. He has stated that discussions are ongoing with various parties regarding TikTok’s acquisition and expects to decide on the app’s future by February.

Trump also mentioned TikTok in a post on his

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