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President Trump has directed the United States Treasury and Commerce Department to immediately establish a sovereign wealth fund aimed at monetizing national assets.
Some shit you should know before you read: A sovereign wealth fund (SWF) is a state-owned investment fund comprised of financial assets such as stocks, bonds, real estate, or other investments, typically funded by government surpluses, resource revenues, or foreign exchange reserves. These funds are used to generate long-term financial returns, stabilize national economies, and support public projects. Countries with well-established SWFs include Norway, China, Saudi Arabia, Singapore, and the United Arab Emirates. Norway’s Government Pension Fund Global (GPFG), the largest SWF in the world, holds over $1.7 trillion in assets, with a per citizen value of approximately $325,000. Supporters argue that SWFs help nations manage financial volatility, invest in future generations, and reduce dependence on unpredictable revenue streams. However, critics caution that without proper oversight, these funds can lead to corruption, politically driven investments, more government control, and mismanagement, especially in countries with weaker governance structures.

What’s going on now: While speaking to reporters in the Oval Office, President Trump signed an executive order directing the US Treasury and Commerce Departments to establish a SWF, marking a significant shift in government investment strategy. The fund, which Trump described as a way to “create wealth for the American people,” will be led by Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick. According to the administration, the SWF will be developed over the next 12 months and will focus on monetizing US government assets, though specific details on funding sources and investment strategies remain unclear. Trump said that the fund could rival those of other nations, such as Saudi Arabia and Norway, and suggested it could be used to finance infrastructure, reduce national debt, or invest in key industries.
One of the most controversial aspects of the plan is Trump’s suggestion that the SWF could help purchase TikTok, the popular social media platform currently owned by Chinese company ByteDance. A recent law requires ByteDance to sell TikTok due to national security concerns, but enforcement of that law was delayed by 75 days under a separate executive order signed by Trump.
Trump has said that the sovereign wealth fund to take ownership or facilitate a deal, which could keep TikTok operational in the US while addressing security concerns and ensuring American control over the app.