President Donald Trump signed an executive order on Monday for creating a U.S. sovereign wealth fund. Trump said that it could be used to purchase TikTok. The fund is expected to be created in the next 12 months by the US Treasury and the Commerce Department. It is not immediately clear how Trump has said previously it could be funded by Tariffs and other intelligent things as per the reports Reuters.
Trump also signed the executive order in the last month to delay the TikTok banning deadlines by 75 days. Hence the application is online after going dark for 12 hours and still missing from the app stores.
Trump also said that he has been in talks with multiple people who are interested in purchasing the social networks. In the last week Microsoft was in communication to buy the TikTok along with the previously said he would be open to Tesla CEO Elon Musk and Oracle chairman for buying TikTok. He also said that they like to have the decision regarding the app’s future in the U.S. in February.