President Donald Trump just made a bold move by signing an executive order to create a U.S. sovereign wealth fund—and he’s hinted it might be used to buy TikTok. The fund, which could be up and running within the next year, would be managed by the U.S. Treasury and Commerce Departments. While the details are still fuzzy, Trump has mentioned that it could be funded through “tariffs and other smart ideas,” according to reports.
This isn’t the first time TikTok’s fate has been in the spotlight. Last month, Trump delayed the app’s ban by 75 days, giving it some breathing room. Although TikTok is back online after a brief outage, it’s still missing from app stores, leaving users wondering about its future.
Trump has also been in talks with potential buyers for the popular social media platform. Microsoft has been in the running, and Trump has even floated names like Tesla CEO Elon Musk and Oracle’s Larry Ellison as possible candidates.