Could TikTok soon become a U.S. government-owned platform? That possibility is looking more likely after President Donald Trump announced the creation of a U.S. sovereign wealth fund. According to Trump, it’s time for the country to have its own sovereign fund — similar to those in the Middle East and Asia — and TikTok might be one of its first acquisitions.

The Treasury and Commerce Departments have been given 90 days to draft a plan, outlining funding mechanisms, investment strategies, fund structure, and governance models. The fund will reportedly be financed through new tariffs, introduced by Trump’s administration since he took office two weeks ago. Besides acquiring TikTok, the fund is also expected to support infrastructure projects, manufacturing, and scientific research.

Just last week, Perplexity expressed interest in acquiring TikTok, with 50% of the ownership proposed to go to the U.S. government. Shortly after taking office, Trump extended TikTok’s sale deadline by another 75 days, delaying a potential ban on the social media platform in the U.S.

With these developments, TikTok’s fate remains uncertain, but it’s clear that a U.S. government-backed acquisition is now on the table.