President Donald Trump signed a new executive order on Monday, February 3, to establish a sovereign U.S. wealth fund.Speaking in the Oval Office, he stated, “It’s a very exciting event. We’re going to have a sovereign wealth fund, which we’ve never had.”The 47th President of the United States suggested that TikTok could be the fund’s first acquisition, adding, “Other countries have sovereign wealth funds, and they’re much smaller countries. They’re not the United States.”

                                              Donald Trump has signed yet another executive order

“As an example, TikTok—we’re going to be doing something, perhaps… and we might put that in the sovereign wealth fund, whatever we make. Or, if we do a partnership with very wealthy people, there are a lot of options. But we could use that as an example and place it in the fund.“We have many other things that we can include in the fund.”Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, who are leading efforts on the new bill, provided the press with a briefing on what it will entail.According to the New York Post, Bessent stated, “We’re going to establish this within the next 12 months. We are going to monetize the asset side of the U.S. balance sheet for the American people. We are going to put these assets to work.”And I think it’s going to be very exciting. We’ve studied best practices from around the world. It will be a combination of liquid assets and assets we have in this country as we work to bring them out for the American people.”Meanwhile, Lutnick added, per the outlet, “The extraordinary size and scale of the U.S. government, along with the business it conducts with companies, should create value for American citizens.”

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