Why Trump wants an American sovereign wealth fund

We’re going to monetise the asset side of the US balance sheet for the American people,

Bessent said

Without detailed financial and operational information, the door is left wide open for rapacious managers and political elites to misappropriate investment earnings,

said the Sovereign Wealth Funds: Corruption and Other Governance Risks report

Creating a sovereign wealth fund suggests that a country has savings that will go up and can be allocated to this,

said Colin Graham, head of multi-asset strategies at Robeco in London

Not only can this lack of transparency make SWFs susceptible to corrupt uses, but at the macroeconomic level, it also raises the spectre of real destabilisation risks if funds were to fail, be mismanaged, or rapidly withdraw funding from target markets,

it added

We’re going to be doing something perhaps with TikTok and perhaps not,

Trump said