Norway’s sovereign wealth fund hits $1 trillion
There’s some big money news out of Norway today. Population: a bit over five million. Money in the country’s sovereign wealth fund: at least a trillion dollars as of today, according to Norway’s central bank. That’s more than two and a half times Norway’s GDP or about $188,000 for every Norwegian citizen. This fund is the largest of its kind and holds stocks, bonds, and real estate all over the world. How did it get so big? And what does that mean for Norwegians, and for the U.S?
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