this post was submitted on 04 Feb 2025
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Trump orders creation of sovereign wealth fund, says it could buy TikTok (www.aljazeera.com)
submitted 2 weeks ago by [email protected] to c/[email protected]
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Author: Unknown
Published on: 03/02/2025 | 00:00:00

AI Summary:
Trump has signed an executive order for the creation of a sovereign wealth fund within the next year. It could potentially buy the short video app TikTok. Typically such funds rely on a country’s budget surplus to make investments. There are more than 90 such funds across the world managing over $8 trillion in assets, according to the International Forum of Sovereign Wealth Funds. Trump suggested the wealth fund could buy TikTok, whose fate in the US has been up in the air since a law requiring its Chinese owner to either sell it on national security grounds or face a ban took effect on January 19.

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