The United States of America has a new ambition: a sovereign wealth fund.
What’s happening:
- President Donald Trump has signed a new executive order for the United States of America to launch a sovereign wealth fund
Why it matters:
- This is the first time ever that America has pursued building a sovereign wealth fund to invest directly into domestic companies
By the numbers:
- The new executive order aims to have America’s sovereign wealth fund operational within 12 months
- More than 90 countries globally currently have sovereign wealth funds, which collectively manage more than $8T USD in assets
Going deeper:
- The United States has been moving quickly to inject capital into entrepreneurial ventures lately, including the recent notable launch of a half a trillion dollar collaboration between SoftBank, OpenAI and Oracle (NYSE: ORCL) for building artificial intelligence infrastructure
The fine print:
- It has not yet been publicly announced what types of companies the United States sovereign wealth fund may invest in or what their initial capital allocations will be
