Trump Orders Development of Sovereign Wealth Fund

President Donald Trump signed an executive order to create a sovereign wealth fund.

“It’s a very exciting event. We’re gonna have a sovereign wealth fund which we’ve never had. We have a lot of things that create wealth,” Trump said.

Trump noted that TikTok may be involved in the fund. “We might put that in the sovereign wealth fund, whatever we make or we do a partnership with very wealthy people, a lot of options. But we could put that as an example in the fund. We have a lot of other things that we could put in the fund.”

“I think in a short period of time, we’d have one of the biggest funds,” he added. “l think it’s about time that this country had a sovereign wealth fund.”

Treasury Secretary Scott Bessent said of the executive order, “We’re going to stand this thing up within the next 12 months. We are going to monetize the asset side of the U.S. balance sheet for the American people.”

Bessent stated that he believes the fund will “create value and be of great strategic importance.”

According to the International Forum of Sovereign Wealth Funds (IFSWF), a sovereign wealth fund is “owned by the general government, which includes both central government and sub-national governments” and includes investments in foreign financial assets.

Prior to the 2024 Presidential Election, Trump promised to create a sovereign wealth fund to “invest in great national endeavors for the benefit of all of the American people.”

“We will build extraordinary national development projects and everything from highways to airports to transportation infrastructure,” Trump said. “We’ll be able to invest in state-of-the-art manufacturing hubs, advanced defense capabilities, and cutting-edge medical research.”

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