Trump is moving to developing SOVEREIGN WEALTH Fund to ‘create value for US citizens’

President Donald Trump said on Monday he would create a superb property fund, a pool of assets found in other countries that can help pay out ordinary funds to ordinary citizens.

However, the detailed details of how the fund would work were not immediately available. Trump published the message in an oval office for executive order signing. He had floated the idea of ​​setting up such a fund during his presidential campaign in 2024.

Treasury secretary Scott Bessent offered brief remarks to the event that outlined the fund.

“It will be a combination of liquid assets, assets that we have in this country when we work … to bring them out for the American people,” he said.

“The extraordinary size and scope of the US government and the business it does with businesses … has to create value for US citizens,” Bessent said. “If we are to buy 2 billion covid vaccines, maybe we should have some warrants and some equity in these companies and make it grow to the help of the American people.”

Trump said trade secretary Howard Lutnick would also be involved in getting up in the fund, which could take as long as a year to establish. Lutnick said on Monday that the fund could possibly be used to help take over Tiktok without offering details of how such an endeavor would work.

Norway has the biggest sovereign fortune in the world. It takes oil revenue and reinvests them in assets as shares. Its current net worth equals approx. $ 325,000 per Norwegian citizen.

Other countries with large sovereign property funds include China, Saudi -Arabia, Australia, Iran and Russia.

Alaska and Texas also have state funds.

EN 2024 study From Carnegie Endowment for International Peace found that without proper protective measures, such as governance and regulatory structures, sovereign wealth funds can turn into “wiring of corruption, money laundering and other illegal activities.”