Trump has ordered the creation of a fund that could potentially acquire TikTok.

On Monday, U.S. President Donald Trump signed an executive order to establish a sovereign wealth fund for the United States within the next year. He stated that the fund could potentially acquire the TikTok application.

This was reported by RBC-Ukraine citing Reuters.

"We are going to create a lot of wealth for the fund. And I think it's time for this country to have a sovereign wealth fund," Trump told reporters.

If established, the U.S. could join many other countries, particularly in the Middle East and Asia, that have created similar funds for direct state-funded investments.

The text of Trump's executive order did not include details. It merely instructed the Departments of Treasury and Commerce to submit a plan for creating such a fund within 90 days, including recommendations on "financing mechanisms, investment strategies, fund structure, and governance model."

Reuters notes that typically such funds rely on the country’s budget surplus for investments, but the U.S. operates with a deficit. Its creation will likely also require Congressional approval.

Previously, Trump, while a presidential candidate, had already discussed such a state investment tool, stating that it could be used to fund infrastructure projects—highways and airports, manufacturing, and medical research.

Administration officials did not disclose how the fund would operate and be financed, but Trump had previously mentioned that it could be funded through "tariffs and other reasonable means."

Finance Minister Scott Bessent told reporters that the fund will be established within the next 12 months.

Trump's Interest in TikTok

It is worth noting that the first thing Trump did as president was sign an order postponing the TikTok ban in the United States. He also pointed out that "many people want to buy" the social network in the U.S., which would allow it to continue operating in the country without breaking the law.

In particular, Trump mentioned that he is open to the idea of Elon Musk or Larry Ellison purchasing TikTok as part of a joint venture with the U.S. government.