The United States may soon establish its first sovereign wealth fund, with President Donald Trump proposing a plan that could see the government invest in assets—including, potentially, the social media platform TikTok.

Trump signed an executive order on Monday to initiate the fund’s creation, declaring it would become “one of the biggest.” However, details on funding sources remain unclear. The U.S. currently operates under a budget deficit, unlike many countries with sovereign wealth funds that typically rely on surplus revenue.

When the idea was initially floated during Trump’s election campaign, he hinted at tariffs and other financial mechanisms as potential funding sources. The administration has already imposed tariffs on imports from China, Mexico, and Canada—though levies on the latter two were temporarily paused for 30 days.

Treasury Secretary Scott Bessent indicated the fund could be operational within a year, with plans to monetize government-owned assets for public benefit. While sovereign wealth funds in nations like Saudi Arabia and Norway leverage profits from fossil fuel sales, Trump has suggested the U.S. fund could finance infrastructure projects, medical research, and other national initiatives.

Trump also raised the possibility of the fund acquiring TikTok, the Chinese-owned social media giant that has faced regulatory scrutiny in the U.S. over national security concerns. While the platform was briefly taken offline last month, the administration delayed further action amid user protests. Trump stated that a potential acquisition by the fund would depend on securing the “right deal.”

The future of TikTok’s U.S. operations remains uncertain, with tech giants such as Microsoft reportedly in talks to purchase the platform. Trump previously expressed interest in a competitive bidding process, with names like Larry Ellison and Elon Musk also mentioned as potential buyers.