Trump creates US sovereign wealth fund, could buy into TikTok

Feb 4

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Craig Nigrelli Anchor

By Craig Nigrelli (Anchor), Brock Koller (Senior Producer), Shea Taylor (Producer), Kaleb Gillespie (Video Editor)

President Donald Trump signed an executive order outlining plans to establish a government-run sovereign wealth fund. The fund would serve as an economic development account and might be used to partner with TikTok.

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The popular social media app operates under a 75-day period during which its owner, ByteDance, is supposed to break away from its Chinese influence.

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In addition to TikTok, the fund would be used to pay for infrastructure projects in the U.S., including at airports and highways.

Tags: Airport, Infrastructure, Railroads, TikTok

[CRAIG NIGRELLI]

THIS MORNING THERE ARE NEW DEVELOPMENTS ON THE FUTURE OF TIKTOK IN THE UNITED STATES.

PRESIDENT TRUMP HAS SIGNED AN EXECUTIVE ORDER THAT OUTLINES PLANS TO ESTABLISH WHAT IS CALLED A **GOVERNMENT-RUN SOVEREIGN WEALTH FUND**.

IT WOULD SERVE AS AN ECONOMIC DEVELOPMENT ACCOUNT AND MIGHT BE USED TO BUY INTO TIKTOK, AS A PARTNER.

THE POPULAR SOCIAL MEDIA APP IS OPERATING UNDER A 75-DAY PERIOD DURING WHICH ITS OWNER BYTE-DANCE IS SUPPOSED TO BREAK AWAY FROM ITS CHINESE INFLUENCE.

IN ADDITION, TO TIKTOK, THE FUND WOULD BE USED TO PAY FOR INFRASTRUCTURE PROJECTS IN THE U.S INCLUDING AT AIRPORTS AND HIGHWAYS.