On February 3, 2025, President Donald Trump signed an executive order to create a sovereign wealth fund (SWF), calling it a game-changer for America’s economic future.
He promised that the U.S. would establish one of the largest SWFs in the world, rivaling nations like Norway and the United Arab Emirates. But there’s a catch—the U.S. is already drowning in $36 trillion of debt.
So, where will the money come from? Some experts warn that America’s vast public lands could be up for sale.
A sovereign wealth fund is a state-owned investment pool that collects revenue from national assets, such as oil, minerals, or trade surpluses.
Countries like Norway have used SWFs to secure financial stability for future generations, investing in global stocks, real estate, and infrastructure.
But the U.S. doesn’t have the budget surpluses or state-controlled oil reserves that other countries rely on to fund these accounts. Instead, Trump’s executive order directs the Treasury and Commerce Departments to identify untapped assets within 90 days.
Treasury Secretary Scott Bessent hinted at the strategy: “We’re going to monetize America’s balance sheet.”
That balance sheet includes federal land—hundreds of millions of acres across the country.
Selling public land isn’t a new idea, but it has never been pursued at this scale. Interior Secretary Doug Burgum estimates that America’s federal lands could be worth as much as $200 trillion.
If Trump’s plan moves forward, national parks, forests, and protected lands could be appraised at market value and sold to the highest bidder.
Land rich in oil, gas, timber, and minerals would likely be the first on the auction block. While leasing public lands for resource extraction generated only $17 billion in 2024, outright sales could bring in far more—enough to seed the SWF.
But at what cost?
The Political Push to Privatize Public Lands
Republican leaders have long argued that federal land ownership stifles economic growth. Their 2024 platform endorsed transferring federal lands to state governments and private developers.
Early in 2025, Utah’s governor mounted a legal challenge to federal land control, though the Supreme Court rejected it.
Meanwhile, the new House majority has rewritten rules to make federal land sales easier. These changes mean that vast stretches of national parks, wildlife refuges, and recreation areas could soon be up for sale—without public input.
A sovereign wealth fund could create long-term financial security, but only with strict oversight. Without it, political leaders could exploit the fund for personal or partisan gain.
White House crypto advisor David Sacks has already proposed investing SWF capital in Bitcoin—a move that could benefit wealthy donors while exposing taxpayers to volatile markets.
History has shown that poorly managed SWFs can lead to corruption.
In contrast, countries like Norway keep political influence away from their $1.8 trillion fund, ensuring responsible long-term investments.
The U.S. would need similar safeguards to prevent financial mismanagement and self-dealing.
Instead of selling public lands, the U.S. could adopt a model similar to Norway or New Mexico. These funds generate revenue by collecting royalties from resource extraction rather than selling off national assets.
New Mexico’s SWF, for example, uses oil and gas revenue to create a permanent fund for education and public services.
By 2039, the state expects to be financially independent of fossil fuel revenue, allowing it to transition to a diversified economy without gutting its natural resources.
A national SWF could follow this approach, ensuring financial stability without sacrificing America’s natural heritage.
Trump’s proposal forces a crucial debate: Should America’s national parks and protected lands be treated as financial assets, or do they hold a deeper value?
Selling off public lands might generate short-term revenue, but it could cause irreversible damage. It would reshape rural economies, disrupt conservation efforts, and permanently alter the American landscape.
If the administration moves forward with this plan, the American people and Congress must decide—will the U.S. trade its treasured public lands for financial gains, or will it find a better way forward?
Clark is a 26-year-old expert working for consumer protection, Clark has dedicated years to identifying and exposing fraudulent schemes. He is working with NGOs to help people who are victims of scams. In his free time, Todd plays football or goes to a bar.
