US President found a new buyer for TikTok.

The President of the United States, Donald Trump, signed an executive order requiring the US Departments of Treasury and Commerce to create a sovereign wealth fund. This fund, according to Trump, could be used to purchase TikTok.

“We are going to raise this issue over the next 12 months. We are going to monetize the active part of the US balance sheet for the American people. This will be a combination of liquid assets, assets we have in this country as we work to bring them to market for the American people,” the American president said.

Earlier, Trump had already proposed to create such a state investment tool, stating that it could finance “large national initiatives,” including infrastructure projects, manufacturing, and medical research. The president believes that the fund could be financed through “tarrifs and other reasonable things.”

According to the International Forum of Sovereign Wealth Funds, there are over 90 such funds globally, managing assets worth over $8 trillion.

Recall that the company Perplexity AI, which is engaged in the development of artificial intelligence technologies, made a new proposal to merge with the short video creation and viewing service TikTok, which involves the establishment of the NewCo holding.

Perplexity AI first announced its desire to acquire TikTok on January 19. The initial proposal was to allow TikTok shareholders to retain their stakes and provide California-based Perplexity AI access to the service's videos. It is currently expected that TikTok shareholders will be able to receive stakes in the new holding.

As is known, the US President stated on January 25 that he was discussing the issue of acquiring TikTok with “very influential people.” According to Trump, preserving this social media for American users would be beneficial for the US from an economic perspective. Trump dismissed concerns regarding China and TikTok, stating that the media platform does not pose as significant a threat to US national security as its critics claim.

Trump had previously stated that he is open to Elon Musk purchasing the video hosting TikTok.

Moreover, TikTok intends to make a deal that guarantees the platform can operate freely in the US. This was stated by General Atlantic CEO Bill Ford at the World Economic Forum in Davos.