Trump also said that if this fund goes through, the money in it could be used for something like buying TikTok. The app’s fate has been up in the air since a law requiring new ownership took effect in January. Rachel Wellhausen, a professor of government at UT Austin, said there are many ways to operate a sovereign wealth fund.

President Trump initiated a plan to establish a United States Sovereign Wealth Fund, with a 90-day deadline for a detailed proposal. The fund will likely be funded by the sale of treasury assets or debt issuance,

A sovereign wealth fund is a state-owned investment fund that invests in various types of assets, from real estate to stocks and bonds. Historically, this has never been done by the US, but has been done by Norway,