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Trump signs order creating first-ever US sovereign wealth fund
[NYPOST] President Trump signed an executive order Monday to create a sovereign US wealth fund — saying that TikTok may become one of its first acquisitions.A sovereign wealth fund is an investment fund owned and operated by a government. The world's largest and wealthiest such funds are owned by China and resource-rich countries like Norway and Middle Eastern emirates. It was not immediately specified how the US endowment — the creation of which was first reported last month by The Post's Charles Gasparino — would be capitalized, but Trump previously floated using tariff proceeds. It's unclear if adding a stake in TikTok would require up-front investment, or if Beijing would offload it without charge to avoid a looming 10% levy that Trump announced Friday. ''It's a very exciting event. We're going to have a sovereign wealth fund, which we've never had,'' Trump said in the Oval Office — as News Corp founder Rupert Murdoch and Oracle billionaire Larry Ellison sat nearby. Posted by: Fred 2025-02-05 |
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