President Trump signed an executive order to establish a U.S. government-owned investment fund aimed at profiting from TikTok, a Chinese-owned app. He indicated his interest in acquiring a 50% stake in TikTok and incorporating it into the proposed sovereign wealth fund, which he states could also include other assets. Sovereign wealth funds are utilized by various nations for investing surplus budget funds, and Trump believes the U.S. could eventually match or exceed the size of Saudi Arabia's 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."
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