President Donald Trump said on Monday that it would create a sovereign fund of wealth, a pool of assets that exists in other countries that can help regular citizens.
However, complete details on how the fund will work is not immediately available. Trump announced on the oval signing ceremony to sign in an oval office. He swam the idea of creating such a fund during 2024 presidential campaigns.
Secretary Treasury Scott Bensent offered short remarks on the event performed by the Fund.
“It will be a combination of liquid assets, the property we have in this country as we do … to take them out for the American people,” he said.
“Extraordinary size and scale of the US government and business working with companies … should create value for American citizens,” Sensent said. “If we will buy 2 billion of meticous vaccines, maybe we should have some orders and some capital in these companies and have it to help the American people.”
Trump said that the HOWERD LUTNICK TECHATER STATERY will also be involved in the rising of the Fund, which could last as long as a year for the establishment. Lutnick said on Monday, the fund could be used to help take the tictor, without the offer of details on how they will work.
Norway has the largest sovereign fund of wealth in the world. Need income and reinvestments in property such as stocks. Its current net worth is equivalent to about $ 325,000 per Norwegian citizen.
Other countries with large sovereign resources of wealth include China, Saudi Arabia, Australia, Iran and Russia.
Alaska and Texas also have funds working on state governance.
A 2024 studio From Carnegie International Peace, it has determined that without appropriate protective measures, such as governance and regulatory structures, sovereign resources of wealth can be converted into “lines of corruption, money laundering and other illegal activities.”
2025-02-03 19:37:00
