https://sherwood.news/world/norways-wealth-fund-reports-record-profits-worth-usd319-900-citizen/

 
WorldWorld
An oil extraction platform is stationed in the bay of the oil city of
Stavanger in southern Norway
Getty Images
Black gold

Norway's wealth fund reports record profits. It's now worth $319,900
per citizen.

The world's largest sovereign wealth fund is currently topping $1.7
trillion.

Millie Giles
1/29/25 11:19AM

There are some strong contenders for the best financial decisions of
all time: franchising a hamburger restaurant in the 1950s; shorting
the housing market in 2007; and, despite this week's slump, buying a
bunch of Nvidia stock at its IPO.

Near the top of the list, though, is one made by Norway's government.
After declaring sovereignty over the Norwegian Continental Shelf back
in 1963, Norway started drilling, and before long, they struck oil --
lots of it. 

Oil for one, and one for oil

In 1990, the country established the Government Petroleum Fund, which
would invest its newfound oil wealth into a range of assets to be
drawn on for its citizens "when required". After an initial
investment of 1.98 billion Norwegian Krone (~$175 million), the
fund's value began to compound quickly, as returns from real estate,
government bonds, and stocks stacked up.

Norway fundNorway fund
Sherwood News

Cut to today, and Norway's sovereign wealth fund is the biggest in
the world. It owns 1.5% of all listed stocks globally, making it the
world's largest single investor. Now, following a bumper year for big
tech, the fund posted a record-breaking annual profit of ~$222
billion on Wednesday, with the fund's value topping $1.78 trillion at
the time of writing -- the equivalent of ~$319,900 for each Norwegian
citizen.

While equities make up more than two-thirds of the fund's value, its
operator, Norges Bank Investment Management (NBIM), has been driving
more capital into renewable energy infrastructure in recent years.

Still, Norway's big green push (the country is also set to become the
first to fully transition to electric vehicles, with EVs accounting
for 96% of new cars sold so far this year) being owed to literally
trillions of petrodollars doesn't come without a slick of irony.

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