What country has a trillion dollar sovereign wealth fund?
OSLO, Jan 30 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, reported on Tuesday a record profit of 2.22 trillion crowns ($213 billion) in 2023, driven by strong returns on its investments in technology stocks.
Norway's sovereign wealth fund, the world's largest, was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. To date, the fund has put money in more than 8,500 companies in 70 countries around the world.
As of March 2024, it had over US$1.62 trillion in assets, and held on average 1.5% of all of the world's listed companies, making it the world's largest single sovereign wealth fund in terms of total assets under management. This translates to over US$295,000 per Norwegian citizen.
The head of Qatar's $450 billion sovereign wealth fund — a prolific buyer of European property — said he's concerned about the commercial real estate market but will continue to support London's Canary Wharf Group project as a long-term shareholder.
China's $1.24 trillion sovereign wealth fund vowed to help with risk mitigation and market stabilization in 2024, the latest sign of state companies playing a bigger role in bolstering the nation's ailing stock market.
Some countries may have more than one SWF. Also, while the United States does not have a federal sovereign wealth fund, several of its states have their own SWFs. The list does not include pension funds that do not meet the SWF criteria.
While the U.S. as a whole does not have a sovereign wealth fund, several of its states do. These funds, however, are nowhere near as big as the international ones listed above. The largest in the U.S. is the Alaska Permanent Fund Corporation, established in the early 1980s, which has roughly $67 billion in assets.
Oil, gas, seafood, and products from energy-intensive industry are among our main export commodities. Our sea areas are six times the size of our land area, and our ocean-based industries account for almost 40 % of our total value creation, and 70 % of our exports.
Since the discovery of large offshore reserves in the late 1960s, Norway's economic engine has been fueled by oil. As Western Europe's top petroleum producer, the country has benefitted for decades from rising prices.
Rich in oil and natural gas, (Qatar possesses more than 15% of the world's proven gas reserves!) the nation has rapidly emerged as a center of international commerce, culture, architecture, and cutting-edge technology at the crossroads of Asia and the Middle East.
How big is the Turkey Wealth fund?
TWF's mission is to develop Turkey's strategic assets, to grow their value and thereby to provide funding for the country's priority investments. The fund manages approximately $33 billion in assets.
The Kuwait Investment Authority, which manages more than $800 billion in government funds, is poised for one of its best fiscal years on record amid a broad market rally that drove double-digit returns at the sovereign investor.
Brazil: $54.3 billion (£43bn) total debt
Across South America, Brazil is easily the largest recipient of BRI funding and holds the most total debt to China.
Sovereign Wealth Funds
Solidium is a holding company that is fully owned by the State of Finland. Although it is not explicitly a sovereign wealth fund, Solidium's mission is to manage and increase the long-term value of the listed shareholdings of the Finnish State.
Canada has several existing provincial and territorial sovereign wealth funds that invest resource wealth on behalf of citizens: the Quebec Generations Fund, the Alberta Heritage Savings Fund, the Newfoundland & Labrador Future Fund, and the Northwest Territories Heritage Fund.
The USA is quite unique in the world. And in a very real way, it is not a Sovereign Entity, except in matters of Treaty and Defense. So, that's why. The Federal government hold no wealth beyond the Federal Reserve.
A sovereign wealth fund is owned by the general government, which includes both central government and sub-national governments. Includes investments in foreign financial assets.
SWFs generally enjoy favorable tax treatment in the U.S., but this treatment is subject to specific limitations; SWFs typically require separate LPA provisions or side-letter protection to ensure that their favorable tax treatment is not thwarted by the activities of the funds in which they invest. US Tax Exemption.
Despite the advantages, SWFs are not without their drawbacks. One concern is the potential for mismanagement and corruption. Poor governance and lack of transparency can lead to funds being misappropriated or invested in risky ventures, resulting in significant financial losses.
Britain did not opt for such a scheme when its North Sea oil boom began in the 1970s. Instead, successive governments used the proceeds from oil and gas fields to keep public borrowing down rather than to build a fighting fund to tackle long-term problems such as our ageing population.
Can a US state be sovereign?
Each state in the U.S. is sovereign in the sense that they have their own constitution and generally create their own laws. However, they still have to adhere to federal laws, and the Supreme Court (a federal court) is the highest court in the land that can overrule states' judicial decisions.
A lot of Norwegian wealth is simply saved. E.g. Norway has a higher GDP per capita than the US, but.
Checking Wikipedia in English, Switzerland is ranked 7th and Norway 8th wealthiest in GDP per capita (sources IMF, UN, World Bank). This ranking is distorted by tax heavens such as Liechtenstein, Monaco, Luxemburg, Bermuda, Irland, Cayman Islands that are topping the list.
Over the past years, the financial worth of households per capita in Norway increased, reaching a value of approximately 40,000 U.S. dollars as of 2022.
Who Owns BlackRock? BlackRock is publicly owned, with its shares held by various shareholders, including institutional investors like Vanguard Group and State Street Corporation and individual shareholders. The specifics of these shareholders can change over time.
