Trump says new US sovereign wealth fund could purchase TikTok
President Donald Trump signed an executive order on Monday to create a U.S. sovereign wealth fund and suggested that it could be used to purchase TikTok. The fund is expected to be created in the next 12 months by the U.S. Treasury and Commerce Departments, though it’s not immediately clear how. Trump has said previously it could be funded by “tariffs and other intelligent things,” per Reuters.
Trump signed an executive order last month to delay the TikTok ban deadline by 75 days. While the app is online after going dark for around 12 hours, it’s still missing from app stores.
Trump has said he has been in talks with multiple people who are interested in purchasing the social network. Last week, he said Microsoft was in talks to buy TikTok, and previously said he would be open to Tesla CEO Elon Musk or Oracle chairman Larry Ellison buying TikTok.
He has said he will likely have a decision regarding the app’s future in the U.S. in February.
