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2025-02-05 Home Front: Politix
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Trump signs order creating first-ever US sovereign wealth fund
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[NYPOST] President Trump signed an executive order Monday to create a sovereign US wealth fund — saying that TikTok may become one of its first acquisitions.
A sovereign wealth fund is an investment fund owned and operated by a government. The world's largest and wealthiest such funds are owned by China and resource-rich countries like Norway and Middle Eastern emirates.
It was not immediately specified how the US endowment — the creation of which was first reported last month by The Post's Charles Gasparino — would be capitalized, but Trump previously floated using tariff proceeds.
It's unclear if adding a stake in TikTok would require up-front investment, or if Beijing would offload it without charge to avoid a looming 10% levy that Trump announced Friday.
''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 — as News Corp founder Rupert Murdoch and Oracle billionaire Larry Ellison sat nearby. 
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Posted by Fred 2025-02-05 00:00||
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Posted by BrerRabbit 2025-02-05 09:55||
2025-02-05 09:55||
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Posted by SteveS 2025-02-05 11:28||
2025-02-05 11:28||
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Posted by Skidmark 2025-02-05 19:40||
2025-02-05 19:40||
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Posted by Besoeker 2025-02-05 19:47||
2025-02-05 19:47||
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