Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Trump moves to develop sovereign wealth fund to ‘create value for American citizens’

by admin February 5, 2025
February 5, 2025
Trump moves to develop sovereign wealth fund to ‘create value for American citizens’

President Donald Trump said Monday he would create a sovereign wealth fund, a pool of assets like those that exist in other countries that can help pay out regular funds to ordinary citizens.

However, full details on how the fund would work were not immediately available. Trump made the announcement in an Oval Office ceremony. He had floated the idea of creating such a fund during his 2024 presidential campaign.

Treasury Secretary Scott Bessent offered brief remarks at the event outlining the fund.

‘It will be a combination of liquid assets, assets that we have in this country as we work … to bring them out for the American people,’ he said.

Trump said Commerce Secretary Howard Lutnick would also be involved in standing up the fund, which could take as long as a year to establish. Lutnick said Monday that the fund could possibly be used to help take over TikTok, though he did not offer details about how such an endeavor would work.

“The extraordinary size and scale of the U.S. government and the business it does with companies … should create value for American citizens,” Lutnick said. “If we are going to buy 2 billion Covid vaccines, maybe we should have some warrants and some equity in these companies and have that grow for the help of the American people.”

Norway has the largest sovereign wealth fund in the world. It takes oil revenues and reinvests them in assets like stocks. Its current net worth is equivalent to approximately $325,000 per Norwegian citizen.

Other countries with large sovereign wealth funds include China, Saudi Arabia, Australia, Iran and Russia.

Alaska and Texas also have state-run funds.

A 2024 study from the Carnegie Endowment for International Peace found that without proper safeguards, such as governance and regulatory structures, sovereign wealth funds can turn into ‘conduits of corruption, money laundering, and other illicit activities.’

CORRECTION (Feb. 3, 2025, 8:39 p.m. ET): A previous version of this article misattributed a quotation. Howard Lutnick said the U.S. government’s transactions with companies “should create value for American citizens,” not Scott Bessent.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Tariff Trepidation
next post
Millennials reimagine retirement: ‘The end game might not be … sitting on my Adirondack chair’

Related Posts

Collapse of fintech firm with 10M users leaves...

May 24, 2024

NFL season expected to spur record $35 billion...

September 4, 2024

TD Bank pleads guilty in money laundering case,...

October 11, 2024

How Foot Locker is waging a comeback after...

September 24, 2024

Nvidia’s CEO did a Q&A with analysts. What...

March 25, 2025

Major maritime strike could threaten ports across the...

September 22, 2024

Dow slips for first losing day in nine...

May 15, 2024

JPMorgan creates new role overseeing junior bankers as...

September 19, 2024

Why Trump’s iPhone tariff threat might not be...

May 25, 2025

Why groceries are so expensive — and how...

May 26, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Offense vs. Defense: How Geopolitical Tensions Shape Market Trends

      June 25, 2025
    • How to Use Fibonacci Retracements to Spot Key Levels

      June 25, 2025
    • Shifting Tides in the Stock Market: A New Era for Bulls?

      June 25, 2025
    • Experts gauge success of ‘bunker buster’ bombs dropped by US on Iran nuclear sites

      June 25, 2025
    • ‘I’m just a silly girl’: AOC fires back after Trump calls her ‘stupid’

      June 25, 2025

    Categories

    • Business (995)
    • Investing (2,462)
    • Politics (3,057)
    • Stocks (1,094)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved