Recently, President Donald Trump announced the establishment of a US sovereign wealth fund yesterday. According to Trump, it is time for America to have its own sovereign wealth fund like the Middle Eastern and Asian countries have done, with TikTok likely to be among the first purchases. So, what should you know about it?
For your information, The Treasury and Trade Departments were given 90 days to submit a plan for the establishment of this fund, including proposals on financing mechanisms, investment strategies, fund structure and governance models. The fund will be created from the collection of new tariff payments announced by the Trump administration since he took office two weeks ago.
In addition to buying TikTok, the funds will also be used for infrastructure projects such as highways, manufacturing and scientific research. A week ago, Perplexity expressed interest in buying TikTok with a 50% stake to be given to the US government. Immediately after taking office, Trump extended the TikTok sale period for another 75 days to avoid the social media platform being banned from operating in the United States.
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