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- 📝 Norway sovereign wealth fund makes $110B
📝 Norway sovereign wealth fund makes $110B
Liam Gill
April 19, 2024
News of the Day
Norway's sovereign wealth fund, the largest globally, reported a first-quarter profit of 1.21 trillion kroner ($110 billion) largely due to strong technology stock returns. The Government Pension Fund Global, valued at 17.7 trillion kroner at quarter-end, experienced good equity returns, especially from the tech sector, but faced setbacks from negative results in real estate and renewable energy infrastructure investments. Managed by Norges Bank Investment Management, the fund is a global investor in over 8,800 companies across more than 70 countries, initially funded by Norway's oil and gas revenues. Despite the mixed results, the fund's deputy CEO, Trond Grande, noted a reassessment in the market's outlook on major U.S. tech companies, including fluctuations in stock performance among the 'Magnificent Seven' tech behemoths like Nvidia, Tesla, and Apple.
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How to pick the right startup in your early 20s
I semi-retired at 27 because I joined Stripe at a great time. Worth noting I know many people who have a lot more than me in pure $ value who don’t feel they can afford to take risks, and many who have a lot less but are more… twitter.com/i/web/status/1…
— Laila Chima ✨ (@lailachima)
2:22 PM • Apr 18, 2024
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