U.S. Could Own TikTok?
Wait, TikTok could be owned by the United States government instead of private Chinese investors? Does anyone think that’s a good alternative?
The Trump administration published an order to establish a “sovereign wealth fund to promote fiscal sustainability, lessen the burden of taxes on American families and small businesses, establish economic security for future generations, and promote United States economic and strategic leadership internationally.”
The fund would do what hedge funds are supposed to do: make investments. The President said that other countries have funds like this and putting TikTok in the fund was just one of many ideas he is spitballing.
“As an example, TikTok, we’re going to be doing something perhaps … and we might put that in the sovereign wealth fund, whatever we make, or if we do a partnership with very wealthy people — a lot of options, but we could put that as an example in the fund. We have a lot of other things that we can put in the fund.”
Another idea was discussed by Commerce Secretary Howard Lutnick: investing in the vaccines that the government green lights.
“If we are going to buy 2 billion COVID vaccines, maybe we should have some warrants and some equity in these companies and have that grow for the health of the American people.”
The government profiting from the vaccines it implements? No. Didn’t we learn from the Covid vaccine?
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