On Monday, President Donald Trump signed an executive matter directing the United States to take steps to start developing a government -owned investment fund that he could use to take advantage of Tiktok if he succeeds in finding it an American buyer.
Trump signed an order in his first office to grant Tiktok until early April to find an accredited partner or buyer, but he said he was looking for the United States for a 50 % stake in the huge social media platform. On Monday, the Oval Office said that Tijook, owned by the country of China, was an example of what he could put in a new American wealth box.
“We may put it in the sovereign wealth box, all we do or partner with very rich people, and many options,” he said. “But we can put it as an example in the box. We have a lot of other things that we can put in the box.”
Sovereign wealth funds are investing in assets, such as stocks, bonds and real estate. It is usually funded by a country budget surplus, which is currently not funded by the United States.
Trump indicated that many other countries have such investment funds and expected that the United States could eventually lead the size of the Kingdom of Saudi Arabia Fund. “In the end we will pick it up,” promised. Countries like Norway also have a similar box.
Get national news
As for the news that affects Canada and around the world, he participated in the urgent news alerts that were delivered directly when it occurs.
In the United States, there are more than 20 sovereign wealth boxes at the state level, according to the analysis of the World Development Center, which is Washington’s non -party research center. The largest-its headquarters is funded in Alaska, New Mexico and Texas-through revenues that come from oil, gas and mineral revenues and are used to finance programs within the country, such as education. Although these funds are owned by governments, they tend to work as independent institutions with their investment strategies and employees.
Trump laid Treasury Secretary Scott Beesen and Trade Minister Howard Lottenic, responsible for setting the foundation for the creation of a fund, which is likely to require congressional approval.
The administration of former President Joe Biden studied the possibility of establishing a sovereign wealth fund for national security investments, but the idea did not lead to any concrete procedure before leaving his post last month.
Pesin said that the administration’s goal is to open the fund during the next 12 months, and Lootnick said that another use of the fund could have obtained a profit earning share in vaccine manufacturers.
“It must create the unusual volume, the size of the United States government, and the business it is carrying out with companies valuable to American citizens,” Lootnick told reporters.
Tiktok was supposed to be banned in the United States last month under a federal law forcing to get rid of his shares or a ban. The law was issued in April with the support of the two parties in Congress and Biden signed. Soon the two companies and some users took legal measures against the statute, which was eventually supported by the Supreme Court last month.
After taking office, Trump, who tried to ban the popular application during his first term, ordered the Ministry of Justice to stop the application of the law for 75 days. Rarver gave the company more time to get to know an agreement with the administration.
Many other investors – including billionaire Frank McCtrt and former Treasury Secretary, Stephen Mnuchin – publicly spoke about their desire to purchase the American Tijook platform. Trump said that “many people” have contacted him separately. Last week, he said that Microsoft was one of the American companies looking forward to the social media platform.
An emerging artificial intelligence company, based in San Francisco called Perplexity AI, submitted a proposal for the Bytedance last month that would allow the United States government to own up to 50 % of the entity that combines the American Tiktok platform and confusion, a familiar person about what was previously informed of the agency Associated Press. If it succeeds, the proposal will allow the American government to have a large share in this entity by providing a preliminary general offer of at least $ 300 billion.
–The Associated Press Hallelua Hadero’s author contributed to reporting.
And copied 2025 Canadian press
