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President Donald Trump has signed an executive order to create a U.S. sovereign wealth fund, which could potentially be used to acquire TikTok, The Hindu reports.
Treasury Secretary Scott Bessent stated that the fund will be established within the next 12 months, aiming to "monetize the active portion of the U.S. balance sheet" for the benefit of American citizens. Details on funding and operations remain unclear, but Trump suggested that tariff revenues could be one potential source.
Globally, there are over 90 sovereign wealth funds managing assets worth more than $8 trillion, according to the International Forum of Sovereign Wealth Funds.
On January 25, Trump confirmed ongoing discussions with potential investors about acquiring TikTok, with a final decision expected within 30 days. Meanwhile, NPR reported that the White House is also considering transferring control of TikTok to Oracle and other U.S. investors.
Earlier, on January 21, Trump delayed the TikTok ban in the U.S. by 75 days to allow his administration to develop a long-term strategy for the platform.