Rupert Murdoch And Larry Ellison Watch As Donald Trump Meets Press In Oval Office And Signs Executive Order To Create Sovereign Wealth Fund
deadline.comDonald Trump signed an executive order today to begin the process of creating a sovereign wealth fund, a move that he said may be used to help set up a purchase of TikTok.
With Rupert Murdoch and Larry Ellison in the Oval Office, Trump said that “we’re going to be doing something perhaps with TikTok, perhaps not.
If we make the right deal, we’ll do it. Otherwise we won’t.” He said, “I think it’s about time that this country had a sovereign wealth fund.” He said that his treasury secretary, Scott Bessent, and Howard Lutnick, his nominee to lead the Commerce Department, would head up the fund.
Last year, Congress overwhelmingly passed legislation to try to force China-based ByteDance to sell TikTok’s U.S. operations, or face a ban on app stores and other platforms.
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