• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

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

by February 4, 2025
written by February 4, 2025

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 comment
0
FacebookTwitterPinterestEmail

previous post
‘Exciting chapter’: Interior Sec takes aim at Biden oil lease ban, ‘coercive’ climate policies in Day 1 orders
next post
Trump eyes Abraham Accords expansion, Gaza rebuild with Netanyahu meeting on deck

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Here’s the pathway for President Trump to receive his much-deserved Nobel Peace Prize

    August 29, 2025
  • George Clooney silent after Hunter Biden blasts actor for op-ed that helped end Biden campaign

    July 23, 2025
  • Republicans ready late-night session on Trump’s ‘big, beautiful bill’ after GOP mutiny

    May 18, 2025
  • U.S. farm agency allows six more states to bar some items from food aid

    August 5, 2025
  • Rolls-Royce share price analysis: buy, sell or hold?

    August 12, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • ‘Tipping the scales’: House GOP leaders rip ActBlue after Dem fundraising giant hit with subpoena

    October 31, 2024
  • Nasdaq is testing a key support level, which stocks hold the key?

    July 30, 2024
  • Trump admin to send workers abroad to boost US shipbuilding, counter China’s edge

    September 4, 2025

Recent Posts

  • Solana and Cardano: Solana breaks yesterday’s support

    August 1, 2024
  • Trump announces North Dakota Gov. Doug Burgum as Department of the Interior secretary

    November 15, 2024
  • Sunrun stock soars 15% after SunPower bankruptcy filing: What you need to know

    August 7, 2024

Editor’s Pick

  • Fox News Poll: Trump ahead of Harris by 2 points nationally

    October 16, 2024
  • Retirees ‘stunned’ as market turmoil over tariffs shrinks their 401(k)s

    April 6, 2025
  • Trump to sign executive order establishing White House faith office

    February 7, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock