Donald Trump signed an executive order to begin the process of creating a sovereign wealth fund, a move he said may be used to help buy TikTok.

The sovereign wealth fund — a government-owned and-administered investment fund — will be the first ever established in the US.

President Trump on Monday directed secretaries to begin a process to create an American sovereign wealth fund, suggesting it could partially own the popular app TikTok. The president signed an

The president said he 'might' put the Chinese-owned social media giant, which is supposed to be banned in the US, in the new fund, which would require congressional approval