Norway first country to hit sovereign wealth fund levels of USD $1 trillion
Would you have guessed that Norway currently has the world’s largest sovereign wealth fund? Being a modest and quiet nation, their pot surprisingly reached the value of USD $1 trillion dollars which is unprecedented for any country to date. The Norwegian Central Bank, who manages the fund, stated that this means each of the 5 million citizens living in Norway is worth an average of €158,000.
Their central bank was established in the 1990s to manage the Norwegian state's oil profits; the fund set the record thanks to the appreciation of the world's major currencies, strong revenue and a good stock market health.
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