Overview

• Rupert Murdoch, founder of News Corp and former chairman of Fox Corp, was present as President Trump signed an executive order establishing a U.S. sovereign wealth fund.
• The fund is proposed as a potential vehicle to acquire TikTok from its Chinese parent company, ByteDance.
• Trump praised Murdoch and Oracle founder Larry Ellison, calling them 'legends in business' and 'among the most talented people in the world.'
• Trump dismissed recent criticism from The Wall Street Journal's editorial board, owned by Murdoch, over his tariff policies, calling them effective due to America's economic strength.
• Murdoch, who stepped back from his formal roles in 2023, continues to wield influence in media and politics, underscored by his presence at the White House event.