The Scandinavian countries are usually well known for their generous social programs, great schooling, and some of the happiest people in the world. But, aside from all their well-known perks, Norway also boasts the largest sovereign wealth fund in the world coming in at $1.4 trillion. And given Norway’s relatively small population, that comes out to over $260,000 per person. There’s no doubt that this wealth fund is far superior to any nationalized retirement or pension fund in the world, and the best part is that it doesn’t even run on taxes or contributions from citizens.
All of the seed money within Norway’s fund originates from petroleum taxes and leases paid for by oil companies drilling in Norway. Norway has cleverly invested this money into the stock market, bonds, and real estate over many decades, and today, they’re reaping the benefits of their work. This video explains the history of Norway’s Oil Fund and how it became the largest sovereign wealth fund in the world.
