Trump Signs Executive Order to Establish Sovereign Wealth Fund, Targets TikTok Acquisition – One America News Network
OAN Staff James Meyers
1:25 PM – Monday, February 3, 2025
President Donald Trump has instructed his administration to initiate a plan for establishing an American sovereign wealth fund, which may include partial ownership of TikTok.
Advertisement
This Monday, the president executed an executive order in the Oval Office, directing Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick to develop and oversee this dedicated fund.
“This is a truly exciting moment. We’re going to establish a sovereign wealth fund, which is unprecedented for us,” Trump remarked. “We have various assets that generate wealth, and in the last two weeks alone, I believe we’ve created substantial wealth.”
“Regarding TikTok, we are considering our options. If we reach a favorable agreement, we will proceed; otherwise, we won’t. However, I hold the authority to make that decision,” Trump stated. “We may include that in the sovereign wealth fund if it’s beneficial, or we might pursue partnerships with affluent individuals. There are numerous possibilities, but TikTok could serve as an example of what the fund could encompass.”
The 47th president emphasized that many other countries have established such investment funds and expressed confidence that the U.S. could eventually surpass Saudi Arabia’s fund in size. “Eventually, we’ll catch up,” he assured.
Furthermore, Trump is advocating for a deal to allow TikTok to remain operational in the U.S. and attributes his popularity to his younger supporters during the 2024 presidential campaign.
This initiative follows Trump’s executive order on his first day in office, which postponed the enforcement of a law for 75 days, preventing TikTok’s parent company from divesting the app.
The ban was set to take effect the day before Trump assumed the presidency, following the failure of ByteDance, TikTok’s China-based parent company, to divest as mandated by a law passed by Congress and signed by former President Joe Biden.
Stay updated! Get breaking news alerts delivered directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
Advertisements below
