What we know about the plans of Trump’s administration for a sovereign fund for wealth

The US Treasury and Trade Department will establish a sovereign wealth fund in accordance with the new executive order president Donald Trump Signed on Monday.

Fund of sovereign wealth, state -owned investment fund with various financial assets such as shares and bonds, could file an account for the purchase of TICTOK, Trump reports.

“We’ll do something with Tiktor, and maybe not,” Trump told reporters on Monday. “If we do the right job, we will do it. Otherwise, we won’t.”

“But we could put it as an example in the fund,” Trump said. “And we have a lot of other things we could put in the fund. And I think we would have one of the biggest funds in a short time.”

Trump signs an executive command that delays the prohibition of Tiktoca for 75 days because the future of the application remains uncertain

Countries like Norway and Saudi Arabia use sovereign wealth funds as well as more US countries.

Treasury secretary Scott Bessent He said the fund of sovereign wealth would be created in the next 12 months.

“I think it will create value and be of great strategic importance,” Bessent told reporters on Monday.

The nominated secretary for Besent and the Howard Lutnick trade has been instructed to design a plan in the next 90 days to create a fund, according to the White House. The proposal will include recommendations on funding mechanisms, investment strategies, fund structure and management model.

More details about the sovereign wealth fund were not immediately available, and it is not clear whether the Congress would log out on it.

Trump is appointed Minister of the Scott Treasury, Bessent as acting director of the Consumer Protection Office

However, Trump signaled on the trail of the campaign in 2024 that he was interested in a sovereign wealth fund, using a revenue from tariff for pouring into a wealth fund, and then used that money to pay for projects such as highways, airports and medical research.

In addition, Rev. Morgan McGarvey, D-Ky, introduced legislation in September 2024. Called a Law on Research of the American Sovereign Fund for Researching Fund of Creation of a Sovereign Fund for Wealth in the United States

In the meantime, Trump has been weighed in the future of Tictok several times in recent weeks and said he had talked to several parties interested in buying the application.

Although Tiktoc briefly went off the network for us users in January after The Supreme Court confirmed the ban on the social media platformTrump signed an executive order just hours after his inauguration on January 20th. Delaying a prohibition of Tiktoc for 75 days.

Potential Prohibition of Tiktoca: What applications on social networks appear in app stores

The unanimous verdict of the Supreme Court on the ban on Tiktoc cited concern for national security, especially because of “relations with a foreign opponent” and the practice of collecting an application data.

But Trump has delayed the prohibition in the executive order to have “unique constitutional responsibility for the national security of the United States, the implementation of foreign policy and other vital executive functions.”

“In order to fulfill these responsibilities, I intend to consult my advisers, including the heads of relevant departments and the care agency for national security set by Tiktoc, and continued the resolution that protects national security with the safety of the platform used by 170 million Americans,” he said Trump in an executive order. “My administration also has to review the sensitive intelligence that relates to these problems and evaluate the sufficiency of the alleviation measures that Tiktoc has taken to this day.”

Associated Press and Fox News’ Andrea Margolis contributed to this report.