Sovereign Wealth Fund Summary
The President Trump on Monday signed an executive order to create a sovereign wealth fund for the U.S., which would take government surpluses and invest the money into potentially risky asset classes that could generate high returns.
Treasury Secretary Scott Bessent and Howard Lutnick, Mr. Trump’s nominee for Commerce secretary, are tasked with spearheading the effort. “It’s about time the U.S. had a sovereign wealth fund,” Mr. Trump told reporters in the Oval Office during the signing ceremony.
