HomeBlogDonald Trump Plans to Buy TikTok with New Wealth Fund

Donald Trump Plans to Buy TikTok with New Wealth Fund

US President Donald Trump has signed an executive order to create a new sovereign wealth fund . The executive order, announced on Monday, will see the US Treasury and Commerce departments determine the details of the fund over the next 12 months. However, there is no clear roadmap yet for how the fund will be financed and managed. Trump has previously stated that such a fund could be financed through “tariffs and other smart methods.”

The move is seen as part of the Trump administration’s ongoing fight against China-based social media platform TikTok. Trump has suggested that his sovereign wealth fund could be used to buy TikTok, aiming to give the US more control over the platform. The development has been widely reported given the tensions between the US and China over technology and data security.

Last month, Trump signed an executive order delaying the ban on TikTok in the US by 75 days. The app came back online after a nearly 12-hour outage, but it is still not available for download on the Apple App Store or Google Play Store. While there is uncertainty over whether TikTok will be able to continue operating in the US, Trump’s new wealth fund plan has further fueled the debate.

Trump said he has met with several individuals and companies interested in a possible sale of TikTok. Last week, Trump announced that Microsoft was in talks to buy TikTok, and previously said that Tesla CEO Elon Musk and Oracle Chairman Larry Ellison were also interested in the platform. However, no final agreement has been finalized so far.

The US President has said that he will likely make a final decision on the future of TikTok in February. This statement is of great importance to TikTok users and investors. The platform has millions of users worldwide and is especially popular among young people in the US. However, the Trump administration argues that TikTok poses a national security threat due to its potential data sharing with the Chinese government.

The US’s attempt to establish a wealth fund is seen as a significant development in the global economy. Countries such as Norway, China, Saudi Arabia and the United Arab Emirates have been making large investments with state-backed funds for years. The Trump administration aims to increase the US’s financial power by following a similar strategy.

Donald Trump to support wealth fund with tariffs

This fund is expected to be used for infrastructure projects, technology investments and strategic company acquisitions. However, given the US’s high budget deficit and economic balance, there is still uncertainty about how the fund will be financed. Although Trump has said that the fund could be supported by customs duties and other trade revenues, experts are skeptical about the long-term sustainability of this method.

If the US government takes concrete steps to purchase TikTok, it would be a significant turning point in the technology world. Especially when a state fund directly buys a social media platform, it will bring new discussions about the role of governments in technology companies.

In the upcoming period, critical developments are expected regarding the US sovereign wealth fund project and the future of TikTok. The steps that Washington will take in this regard seem to have a significant impact on global technology markets and US-China relations.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments