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Trump warns to buy tiktok
The Tech Basic > News > Donald Trump Warns That He Might Buy TikTok
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Donald Trump Warns That He Might Buy TikTok

Evelyn Blake
Last updated: 6 February 2025 23:32
Evelyn Blake
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The United States has taken its first step toward buying TikTok. Donald Trump has signed an executive order to create a sovereign wealth fund that would help, among other things, purchase the short-video app. This fund is expected to be implemented within 12 months, but the details are still unknown.

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According to Reuters, the Trump administration has started the process of setting up a U.S. sovereign wealth fund. The directive signed by the president requires the fund to be created within a year using resources controlled by the government.

“We’re 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 at the White House. Treasury Secretary Scott Bessent added that they would use a mix of liquid financial assets and funds available in the country.

Under current law, ByteDance must sell TikTok or face a ban due to national security concerns. However, an executive order signed by Trump has delayed this requirement by 75 days, pushing the deadline to mid-April.

The U.S. president mentioned that the sovereign wealth fund could be used to buy TikTok, but no final decision has been made. “We’re going to do something, maybe with TikTok, and maybe not,” Trump said. “If we make the right deal, we’ll do it. If not, we won’t… We could put that in the sovereign wealth fund.”

Trump has discussed the future of the platform and suggested that a decision could be made in February.

Trump warns to buy tiktok (1)

Why would sovereign wealth funds help the US buy TikTok

Sovereign wealth funds are government-owned investment funds that manage financial assets both inside and outside the country. These funds are usually financed by budget surpluses, earnings from commodity exports, or trade surpluses.

They have become key players in the global economy, especially after the 2008 financial crisis. Their large size and ability to invest make them powerful in financial markets. However, their lack of transparency and regulation in some cases raises concerns about their potential political and economic influence.

If the U.S. creates a sovereign wealth fund, it could use this fund to buy TikTok by leveraging government-controlled financial assets. This would give the government more control over the platform and address national security concerns.

While Trump has suggested that tariffs and other financial tools could help fund the initiative, there is another option. A Bloomberg report states that the government plans to turn the U.S. International Development Finance Corporation into a sovereign wealth fund. This agency typically works with private companies to fund global development projects.

Some experts argue that a sovereign wealth fund is not practical for the U.S. economy. Colin Graham, head of multi-asset strategies at Robeco, pointed out that such funds are usually created by countries with surplus capital, making Trump’s plan an unusual economic move. Additionally, establishing and managing the fund would require approval from Congress.

Regardless of the outcome, Donald Trump has made it clear that he believes he has the authority to buy TikTok. “I have the right to do so,” he said, referring to the potential use of the sovereign wealth fund to acquire the video platform.

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Evelyn Blake
By Evelyn Blake
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Evelyn Blake is an investor in technology and journalist who has been in the nascent space since 2014. Her love and passion for technological innovations made her delve deeper into the world of technology evolution. As a journalist, Evelyn has been covering latest trends and emerging gadgetries. She is a philanthropist and human rights activist.

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