United States President Donald Trump has reviewed a proposed sovereign wealth fund presented by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, fulfilling a directive issued by Trump in February. According to sources familiar with the matter, the White House raised concerns over certain aspects of the Treasury’s approach, as reported by CBS News.

While the full details of the proposal remain confidential, questions linger about how the fund’s proceeds would be allocated. Notably, Trump has previously mentioned the possibility of investing in TikTok, the social media platform facing a US ban unless it severs ties with its Chinese parent company ByteDance. However, no concrete plans regarding TikTok or other specific investments have been confirmed.

In parallel to the wealth fund discussions, President Trump is reportedly preparing a major “earth-shattering” announcement ahead of his upcoming trip to the Middle East. According to the report, this forthcoming announcement is unrelated to the sovereign wealth fund but is expected to draw significant attention.

The pushback from the White House indicates ongoing deliberations over the fund’s structure and strategic objectives. As talks continue, further clarification on the fund’s purpose and potential investments is anticipated.