Trump orders creation of US sovereign wealth fund that could buy part of TikTok

President Donald Trump speaks after signing executive orders in the Oval Office (Evan Vucci/AP)

President Donald Trump has signed an executive order directing the US to take steps to start developing a government-owned investment fund that he said could be used to profit off TikTok if he is successful at finding it an American buyer.

Mr Trump signed an order on his first day in office to give TikTok until early April to find an approved partner or buyer, but he’s said he’s looking for the US to take a 50% stake in the massive social media platform.