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From the New York Post: President Trump signed an executive order Monday to create a sovereign US wealth fund — saying that TikTok may become one of its first acquisitions.
The world’s largest and wealthiest sovereign funds are owned by China and resource-rich countries like Norway and Middle Eastern emirates.
It was not immediately specified how the US endowment — whose creation was first reported last month by The Post’s Charles Gasparino — would be capitalized, but Trump previously floated using tariff proceeds.
It’s unclear if adding a stake in TikTok would require up-front investment, or if Beijing would offload it without charge to avoid a looming 10% levy that Trump announced Friday.
“It’s a very exciting event. We’re going to have a sovereign wealth fund, which we’ve never had,” Trump said in the Oval Office — as News Corp founder Rupert Murdoch and Oracle billionaire Larry Ellison sat nearby.
WATCH:
🚨 WATCH: President Donald J. Trump signs an Executive Order creating America’s first Sovereign Wealth Fund. pic.twitter.com/FuD4mGDMm0
— Rapid Response 47 (@RapidResponse47) February 3, 2025
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