Trump creates first national sovereign wealth fund to invest in America

On Monday, President Donald Trump signed an executive order that is set to have the US Treasury Department create a sovereign wealth fund, and the president said that it could be used to help purchase a portion of TikTok and other investments, according to Reuters. A sovereign wealth fund is a government owned fund that can be used to invest in financial assets both domestically and abroad.

"We're going to stand this thing up within the next 12 months. We're going to monetize the asset side of the US balance sheet for the American people," Treasury Secretary Scott Bessent told the press. "There'll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people." 
 

HAPPENING NOW: President Trump signs an Executive Order calling for the creation of a Sovereign Wealth Fund💸 pic.twitter.com/sMkBg3bUwX

— Karoline Leavitt (@PressSec) February 3, 2025