What is a sovereign wealth fund and why is Trump creating one now?

What is a sovereign wealth fund and why is Trump creating one now?

Source: The Guardian

Designed to invest in the national interest, sovereign wealth funds are typically funded by countries rich in natural resources and it is unclear how a US fund would operate or be financed

Donald Trump has signed an executive order directing the US treasury and commerce departments to create a sovereign wealth fund. Treasury secretary, Scott Bessent, and Howard Lutnick, the nominee for commerce secretary, will lead the effort.
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