Trump Signs Exec Order to Create Sovereign Wealth Fund to Help TikTok Purchase

deadline.com

6 points·smgit··4 comments

What, are we gonna finally tax oil companies more?

Weird perception of giving money to China while saying China bad. The ultimate owners of tiktok is ByteDance - and it is less clear who the owners of ByteDance are. Who owns tiktok: https://edition.cnn.com/2024/03/18/tech/tiktok-bytedance-chi...

As a New Zealander, the whole debacle appears just like just another normal contradictory US narrative.

Edit: and the concept of a wealth fund implies either:

(1) the US investing in foreign non-US shares - most sovereign wealth funds invest in US and offshore, or

(2) a fund that self-invests within the country - often non-capitalistic (e.g. invest for government policy initiatives) or crony.

These are of course non-exclusive, in the sense that crony can be non-US investments. Investing in Middle East efforts such as Neom comes to mind.

Yeah. Sovereign funds really stretch the word "investing".

Here's a list by country: https://en.m.wikipedia.org/wiki/List_of_sovereign_wealth_fun...

The NZ entry only mentions New Zealand Superannuation Fund (70 billion) and ignores other government funds. NZ has a Hazard Fund (was 6 billion before earthquakes) and ACC investment fund (47 billion) and the Government Superannuation Fund (retirement funds/pensions for politicians and government employees) and the National Provident Fund and I think that some government departments also have their own investments.

There's a lot of ESG involved https://fallback.nzsuperfund.nz/assets/Uploads/CTI-Quarterly... and the government wants to use funds to "invest" in internal NZ infrastructure: https://newsroom.co.nz/2024/05/07/national-progressing-chang...

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