Trump's Wealth Fund May Buy Half of TikTok

President Donald Trump has signed an executive order to establish the first-ever U.S. sovereign wealth fund within a year, a move that could facilitate the purchase of TikTok by the U.S. government. The fund aims to generate long-term returns by investing in various assets, although the U.S. lacks the budget surpluses typically used to finance such funds. Trump has proposed the fund could hold a 50% stake in TikTok as part of a deal to prevent its ban in the U.S., with Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick tasked with its formation. The announcement has caused a significant reaction in financial markets and amongst the public, with Bitcoin prices surging. This development follows Trump's calls for TikTok to find an American buyer by April to avoid divestment from its Chinese owner, ByteDance. The creation of the fund has sparked discussions on its implications, both in terms of financial strategy and geopolitical dynamics.