Trump says new American sovereign wealth funds could play role in Tiktok Rescue

On By Littum

Donald Trump said on Monday that a newly created American sovereign wealth fund could play a role in his attempt to save Tiktok from a US ban.

The president had previously floated the idea of ​​the United States taking a 50% share on the social media platform as part of any deal negotiated with Tiktok Chinese parent byte dancing to dispose of Tiktok in order to escape an American ban .

On his second day in the office, Trump told journalists that “what I’m thinking of saying to someone is, buying it and giving half to the United States of America. Half and we give you the permission. And they will have a good partner, USA. “

Today, when he signed a executive order that directed the US Ministry of Finance and trade departments to launch a new sovereign wealth fund, he said of Tiktok that “we could put it in the sovereign wealth finds no matter what we do or we do a partnership with very wealthy people, a lot of opportunities, ” According to a report from Associated Press.

“We have a lot of other things that we could put into the fund,” he added.

Washington, DC - February 3: US Secretary of Treasury Scott Bessent (L) and Howard Lutnick, US President Donald Trump's nominees to Trade Secretary, stand behind US President Donald Trump as he speaks to journalists in the oval office in the white House in February 03, 2025 in Washington, DC. After signing a number of executive orders and proclamations, Trump spoke with journalists on a number of topics, including recent negotiations with Mexico on Tarriffs. (Photo by Anna Moneymaker/Getty Images)
Secretary of the Treasury Scott Bessent, Left, and Howard Lutnick, President Donald Trump’s nominees to trade secretary, is behind Trump while speaking to journalists in the Oval Office on Monday. (Photo by Anna Moneymaker/Getty Images) · Anna Moneymaker via Getty Images

President Trump issued a separate executive order on January 20, temporarily cutting off Tiktok against the US ban.

This order-as experts have said is legally questionable-opening a 75-day window for the Trump administration “to determine the appropriate course forward in an orderly way” for Tiktok’s US business after a new law that effectively banned the app , took into effect the day before Trump joined.

Trump’s order gave city dancing until April 4 to comply with the law. However, Trump has said he would decide Tiktok’s fate in February.

Other potential Tiktok buyers floated as far by Trump includes Elon Musk, owner of X; Larry Ellison, President of Oracle (Orcl); and Microsoft (MSFT). It is not yet clear whether anyone is involved in actual discussions.

Microsoft, along with Walmart (WMT), submitted a failed bid for Tiktok during Trump’s first period when Trump was actually trying to ban the app.

When Microsoft was asked last week if Microsoft was among the companies that were interested in this time in an ownership interest, Trump replied, “I will say yes.”

“I also want Larry to buy it,” the president said of Oracle co-founder Larry Ellison during a press conference during his first week in Embed, where Trump announced a new $ 500 billion artificial intelligence infrastructure obligation.

Rupert Murdoch, Left, and Larry Ellison, President and Chief Technology Officer for Oracle Corporation, sitting in the Oval Office of the White House as President Donald Trump signs a executive order, Monday, February 3, 2025, in Washington. (AP Photo/Evan Vucci)
Rupert Murdoch, Left, and Larry Ellison, President and Chief Technology Officer in Oracle Corporation, sitting in the Oval Office of the White House when President Donald Trump signed an executive order on Monday. (AP Photo/Evan Vucci) · Associated Press

NPR later reported That the Trump administration developed a plan that would move control over Tiktok to Oracle, where Ellison is chairman and technology officer with other external investors.