US debt surge: CEO of the world’s largest sovereign wealth fund weighs in

The Trump administration is still reportedly keen on starting a sovereign wealth fund. But details have been scant since initial news hit the public in early February. Even if a US sovereign wealth fund gets developed, it will have a hard time amassing the size of Norway’s. Norway has the largest sovereign wealth fund in the world with more than $1.8 trillion in investments spanning stocks, fixed income and real estate. It owns close to 9,000 stocks. Looked at another way, Norway’s sovereign wealth fund owns almost 1.5% of all shares in the world’s listed companies. Some well-known holdings include Tesla, Nvidia, Google, among many others. In charge of managing this fund - which was established in 1990 to diversify from Norway’s oil revenue – is Norges Investment Management CEO Nicolai Tangen. Tangen joined as CEO in September 2020 after a successful run as a top hedge fund manager. He gained another five-year term as CEO earlier this year, extending his run atop the fund at least until 2030. Yahoo Finance executive editor Brian Sozzi talks on the Opening Bid podcast with Tangen about how he invests and what’s next for markets. Tangen is also the host of the In Good Company podcast, where he interviews other CEOs, usually of companies the fund is invested in. Some headline-grabbing interviews have included with Twitter founder and Block CEO Jack Dorsey, Tesla CEO Elon Musk, and Elliot Management founder Paul Singer.

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