Trump commands the SOVEREIGN WEALTH Fund, with the potential to buy Tiktok

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  • President Donald Trump on Monday issued an executive order for the creation of the country’s first superb wealth fund.
  • A superb wealth fund is a state -owned fund that includes investments in foreign assets.
  • The American sovereign wealth fund could be used to buy Tiktok’s US assets if the platform’s Chinese parent company bytance wants to sell them.

President Donald Trump on Monday signed an executive order to set up the country’s first SOVEREIGN WEALTH Fund, which could be used to buy Tiktok.

Participation in Trump in the Oval Office said secretary of the Treasury Scott Bessent that the fund will be operational within the next year.

Although Trump did not explicitly indicate what the fund will be used for, he quoted the purchase of Tiktok as an example.

“We will do something, maybe with Tiktok and maybe not if we enter into the right deal,” President told journalists Monday. “But I have the right to do it, and we might put that in SOVEREIGN WEALTH FEAD.”

What is a superb property fund?

A superb wealth fund is a state -owned fund that includes investments in foreign assets. In the case of Tiktok, the newly ordered fund could be used to buy the US assets in Tiktok from the platform’s Chinese parent company bytance if they are interested in selling.

Financing to one SOVEREIGN WEALTH FundAccording to Reuters, can come from excess reserves, trade surplus, banking reserves, foreign currency operations, money from privatizations and government transfer payments.

The world’s largest sovereign wealth fund is Norway Government Pension Fund Global, which contained more than $ 1.7 trillion from January, according to January, according to Investopedia. The fund was established in 1990.

What is the status of Tiktok?

On his first day back in office, President Donald Trump signed a Executive Order It expanded the ban on Tiktok, which was implemented by former President Joe Biden last year. Trump’s order gave a 75-day extension that Trump said will allow him to consult his advisers and heads of “relevant” departments and agencies to tackle national security concerns that Tiktok poses.

The prohibition signed in the law of the bite gave bytance until January 19 to dispose of Tiktok. The move followed years with some US government officials who expressed fears that Tiktok constituted a national security threat, concerned that bytedance shares US user data with the Chinese government. Tiktok has repeatedly denied these claims.

On January 18, Tiktok became dark and became useless on mobile devices and desktops. The platform was also wiped out from the Apple App and Google Play Stores. A little more than 12 hours later, Tiktok’s power was restored after Trump promised that companies that distribute the platform would not face consequences.

Tiktok has since been available for use, but the platform was still not available for download in app stores from Monday.

Greta Cross is a national trending reporter at USA Today. Follow her on X and Instagram @GretalCross. History idea? E -Mail her on [email protected].