Amy Hong has worked as JPMorgan’s managing director of asset and wealth management and before that led First Republic Bank’s wealth management operations team, with $250 billion in assets under management.

Leaders in both major political parties are interested in establishing a U.S. sovereign wealth fund, but some experts say creating such a fund will be daunting and impractical.

Major Democratic donors on Wall Street are increasingly pushing Kamala Harris’ team to replace Lina Khan and Gary Gensler if the vice president wins in November.

With the UK’s standard inheritance tax rate currently set at 40%, the threat of significantly higher levies for foreign residents — or non-doms — on their global wealth through Labour’s reforms is causing them the greatest concern.

Trump said the fund, which would pay for infrastructure projects and reduce the national debt, would be supported through tariffs.

Vice President Kamala Harris raised $361 million in August, highlighting how her ascent to the top of the Democratic ticket has energized the party’s donors and base and upended the race with Republican Donald Trump.