Trump Announces Sovereign Fund, Hints at TikTok Acquisition
Former U.S. President Donald Trump has issued a new executive order establishing a sovereign fund for the United States, with a potential plan to use it for acquiring TikTok. The order, signed on Monday, directs the U.S. Treasury and Commerce Departments to set up the fund within the next 12 months. However, no clear guidelines have been provided regarding its management, according to a report by TechCrunch.
Trump previously stated that the fund could be financed through various tariffs and other “intelligent measures.”
Last month, he signed an executive order extending the deadline for TikTok’s ban by 75 days. Although the app was briefly taken down for 12 hours, it has since been restored, yet it remains unavailable in app stores.
Trump also confirmed that he has been in discussions with multiple individuals regarding a potential acquisition of TikTok. He noted that Microsoft has already been engaged in negotiations to purchase the app. Additionally, he expressed openness to Tesla CEO Elon Musk and Oracle Chairman Larry Ellison exploring the possibility of acquiring TikTok.
The former president indicated that he could make a final decision on TikTok’s future in the United States by February.
