Paulson Echoes Trump’s Ambitions for US Sovereign Wealth Fund

Trump vowed to start wealth fund in speech on Thursday
Paulson says he and Trump haven’t yet discussed plan details

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By Sonali Basak and Hadriana Lowenkron

September 5, 2024 at 7:45 PM UTC

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Hedge fund billionaire John Paulson said the US should build a sovereign wealth fund that surpasses Norway’s $1.7 trillion money pool, an ambitious if unlikely goal for a country that has struggled to rein in trillion-dollar deficits.

Former President Donald Trump vowed to start such a fund with proceeds from trade tariffs in a speech on Thursday in New York. Paulson has been advising Trump on the idea, but said in a Bloomberg Television interview after the speech that the two men haven’t yet discussed details of the plan.