President Donald Trump has announced plans to establish a U.S. sovereign wealth fund, which could potentially be used to acquire the social media platform TikTok within the next year. This decision follows Trump's prior executive order to postpone a TikTok ban by 75 days. Although TikTok briefly went offline, it remains unavailable on app stores. Trump has indicated ongoing negotiations with several interested buyers, including Microsoft, Elon Musk, and Larry Ellison, with a key decision expected by February regarding TikTok's future in the U.S.
President Donald Trump signed an executive order to create a U.S. sovereign wealth fund, potentially to purchase TikTok, within the next year.
The fund is anticipated to be established by the U.S. Treasury and Commerce Departments, although specific funding methods remain unclear.
After a temporary suspension, TikTok is still unavailable in app stores following Trump's recent executive directive delaying its ban.
Trump has mentioned ongoing discussions with various parties, including Microsoft, Elon Musk, and Larry Ellison, regarding the purchase of TikTok.
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