President Donald Trump signed an executive order on Monday to create the first-ever US sovereign wealth fund, a concept he proposed during his 2024 presidential campaign.
The fund, which will be set up by the Treasury and Commerce Departments within the next year, aims to monetize US assets to provide economic stability and growth.
“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 during the signing.
🚨 WATCH: President Donald J. Trump signs an Executive Order creating America's first Sovereign Wealth Fund. pic.twitter.com/FuD4mGDMm0
— Rapid Response 47 (@RapidResponse47) February 3, 2025
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While details on funding sources remain unclear, Trump suggested potential revenue could come from tariffs and other means.
This initiative might include purchasing TikTok, contingent on negotiation outcomes.
“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,” Trump said in regard to this option. “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.”
Sovereign wealth funds are common in countries like Norway and China, and their role is to invest in various assets to accumulate wealth for national projects and economic insulation.
Connor Walcott is the lead writer for Valuetainment.com. Follow Connor on X and look for him on VT’s “The Unusual Suspects.”
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