Norway Wealth Fund CEO on Managing $1.6T, World's 'Most Interesting Job'

[@ArntArnesen]

As a norwegian I really would like to thank Mr Tangen for his sacrifice for his nation. He have had to put his fortune(about 2 billion dollars) in bank and obligations. He cant invest his own money in the stockmarket and looses a lot by working for the wealth fund. Its a blessing living in a debt free nation with a wealth fund adding up to about $500.000 for everyone of us. In a unique position for a good future for generations to come.

[@SonySamtron]

Since your comment the value has dropped to about $320.000 for everyone. I'd still take it tho

[@olamsoevik]

I also like Tangen, but it's not a real sacrifice. There's a lot more prestige in his current job. It's like saying that a corporate lawyer who became a high court judge made a sacrifice.

[@felagund87]

"sacrifice" come on. The man is and will stay insanely rich for the rest of his life, and got an extremely prestigeous job.

[@ArcticNovaorg]

Also, Norway is not debt free. 40% of GDP

[@ArntArnesen]

For all practic purposes they are debt free.​@@ArcticNovaorg

[@keacyut7]

The Norwegian wealth fund works because of the Norwegian culture and mindset. The way he describes of how he manages it is very Norwegian. He is there to simply manage it, grow it, and be the face but every big decision-making is done collectively by people who are experts in what they do. Norway has a flat hierarchy so everyone's job and ideas matter. There is also a big trust in everyone for them to thrive in the work that they do.

[@TrondTillmanSynnes]

In a way, you are right. Tangen get's away with being corrupt, because of the Norwegian mindset, which is not based upon equality, but to never question authority. Did you know that there is no transcription in Norwegian courts? Norway has THE most corrupt government in Europe, and there are no avenues for the people to hold government officials accountable. Tangen famously has millions in tax havens, which is illegal in Norway. How did he get all those millions? Not through legal means.

[@jandmath]

​@@TrondTillmanSynnes This is just the rant of a conspiracy lunatic. You would be struggling if someone asked you to provide some basis or documentation for your claims.

[@The_Judge300]

@@TrondTillmanSynnes You are totally talking out of your backside and is just stacking lies upon lies. You clearly are both struggling with the truth, the Norwegian government and people having much better success in life than you have. It really must be sad to be you and I pity you. You claiming that Norwegians not questioning authorities is the first of them. Norwegians do in general trust their authorities, but they for sure question them if mistakes, injustice, lies and other things they don't like are done by the authorities. Another reality is that there is extremely more equality in Norway than most if not all other countries in the world. I suggest you travel a bit around the world to experience how it usually is for most of the people on this planet. I know as I have travelled to MANY countries in the world, lived together with the locals and listened to their life stories. I suggest you do that same. I promise you that your life will be richer for it And while you are partly correct about documentations in Norwegian courts are you also partly wrong. You and/or your lawyer can very well take all the notes you want inside the court first of all. Making your own documentation of what is happening. And there has also been some transcripts and recordings done in some court cases over the years. Including in the court case against Anders Behring Breivik. Secondly have there been done much testing in some courts with digital sound recordings for some years with the intention to implement that in all courts in Norway. And the reality is also that there is extremely little corruption in Norwegian courts. And while there has been made mistakes in Norwegian courts with the result of putting the wrong people in prison, have these mistakes almost never happened because of the lack of court transcripts. Even the most staunch critics of the lack of transcripts have struggled to come with many of these examples over the history of the Norwegian courts. But hopefully the sound recordings will be implemented in all courts soon, removing all sorts of questions and doubts regarding the matter. And you claiming that the Norwegian government is the most corrupt one in Europe proves that you either is utterly clueless about the realities in the other European countries and/or you are just lying through your teeth because of an agenda you have against the Norwegian government. Your claims could not be further from the truth. As someone that has lived and worked in multiple European countries, travelled in many more and having a rather good insight into both international law enforcement and corruption in general in Europe, can I for sure say that Norway is one of the least corrupt countries in Europe and the world. Norway ranks in the top 3 percent of the least corrupt countries in the world. And let us talk a little about Nicolai Tangen, shall we? Are you really that clueless about him, or do you just decide to lie about him? How did he get all those millions? The reality is that he got all those millions because he has been a hedge fund manager for many years and he founded the London based investment management firm AKO Capital that made tons of money and it had $18 billion in assets under management when Tangen stepped down to take the job he has now. When he stepped down from AKO Capital he transferred the the entire value of all his stake in AKO Capital to their charitable foundation, the AKO Foundation and this was worth about $550 million. Not exactly what a corrupt criminal would do, or what? And you are also totally incorrect when you claim that it is not legal to have money in tax havens for Norwegians. This is perfectly legal as long as you are open and honest about it to the Norwegian government. You lying about and slandering this man as much as you do is just utterly disgusting. Why do you feel the need to do so? Envy? Feel that you are failing in life yourself? Or do you just hate the world? I could tell anyone reading this a few things about you, but I have the decency to not do so, even if what I would write would be the truth and not all the disgusting lies you have managed to vomit out about both Norway and Nicolai Tangen.

[@drSvensen]

​@@TrondTillmanSynnes Det er i hvert fall tydelig at vi fortsatt har en lang vei å gå når det kommer til behandling av personer som trenger psykisk helsehjelp. Hvordan du får lov å springe rundt på egenhånd i samfunnet uten medisiner er svært bekymringsverdig.

[@The_Judge300]

@@jandmath The reality is that he is just lying through he teeth and can not back up anything apart from the fact that transcripts are usually not done in court cases in Norway, even if it does happen and that audio recordings have been tested out in some courts with the intention of implementing that in all courts. Everything else is just disgusting lies and crazy conspiracy theories. He clearly is a man that struggles in his own life and wants to blame and attack everyone else for it but himself.

[@shivendrasinhpatankar9604]

Great line of questioning! This is making me dive deeper in understanding the things Nicolai talked about.

[@dennismorris7573]

Excellent interview of the brilliant Nicolai Tangen of the Norwegian Sovereign Wealth Fund by one of Bloomberg´s best, Francine Lacqua.

[@shervinasgari6314]

We are so grateful to have a person like Nicolai Tangen managing our fund!

[@FreebeatMusicProd]

LOL.. What many do not know is that when the marked was manipulated into the finacial so called collapse back in 2007/2008 ( based on the same template that was used when the marked intantionally was crashed back in 1929 ) then the stocked got very cheap and the so called WEALTH fund ) bough cheap stocks back in 2008 and when the marked was yet again manipulated back up again...those stocks became worth alot, and on the cost of f.ex cities like DETROIT and many others that DID collapse based on that marked manipulation..and that is the so caled REAL REASON that the norwegian wealth fund has become that larged and has nothing to do with how NICOLAY or those other CEO's of the NORWEGIAN wealth funds managing that fund. THE WEALTH of NORWAY is based upon other nations that is suffering for it and by the way... the way the investment that is being done using this wealth fund is also very NOT moraly nice cause it does invest in a lot for shady deals all over the world and NICOLAY is a puppet that dance accoring to those BANKING FAMILIES that do issuing the orders to governments around the world from behind the scenes !!

[@zombi3lif3]

"We" are not

[@raedbahakeem3075]

Great discussion. It is amazing how Norway 🇳🇴 with a population of about 6M has the biggest SWF. GEAT JOB. 👏

[@andersbjrnsen7203]

@@raedbahakeem3075 yes, but Im increasingly worried that we should have used it to build some kind of future proof industry in Norway rather than treating it as a savings fund. And no, I have no idea what a future proof industry would be..

[@raedbahakeem3075]

With such a great track record I am 100% sure m, you guys will figure it out.

[@bell4textu973]

Norway needs more wealth. Much more, and it should come through deep sea mining for precious minerals. Go Norway!!

[@redmustangredmustang]

INSTEAD of being selfish and using it on the ultra rich and corporations, Norway used that oil money for the PEOPLE and were SELFLESS. So they invested in education, infrastructure, and health care and the people are healthier, happier, and wealthier because of it. Britain could have done the same thing back in the 70's when they struck rich with oil. Instead, the privatized the companies and pissed away what could have been sitting on wealth for the UK for generations to come.

[@PhilipAndreGjone]

Also if you devide all that money it’s like 350 k USD to each Norwegian 😂

[@arnomd]

NOT SO. All oil revenue goes to Wall Street ett.

[@TrondTillmanSynnes]

Not true at all. We have the worst infrastructure in Europe, and the only thing politicians spend money on is themselves and their friends.

[@The_Judge300]

@@TrondTillmanSynnes There you go again with even more lies. You really are a VERY bitter man. Have you even travelled outside Norway? I VERY much doubt you have. At least you give the impression of being totally clueless about how it is outside of Norway. Please tell us all who financed your education and the courses you went to. Oh, I forgot, you got it all for free or maybe paid a very small fee. Please tell us all how you plan to pay for your hospital bills if you need to go to a hospital. Oh, I forgot, you get it for free. Please tell us all what happens in Norway if you are not able to work. Oh, your country pays for your housing, food and clothes and much more. Maybe you can tell all about how flat, frost free, fjord free, wind free it is in Norway and how easy and cheap it is to build and maintain infrastructure in Norway.

[@MrETS68]

@@The_Judge300 No doubt that we have it good in Norway compared to other countries, but where do you get it from that we get things for free, ALL prosperity is paid by taxes, the only thing is, that it doesn’t matter if you are rich or poor, you get the same healthcare as anyone, you don’t need any health insurance, but Norway is not the only country with that solution so we are not that kind of unique, also many are struggling because of high prices on everything, high food/gas prices even we have become filthy rich on oil, there are other things we need to improve and with only 5,55 million people there should not be that hard, but on the other side,unfortunately…way to many are falling out of working life too early, it is too many diagnoses nowadays that we didn’t have back when I was young, if this continues it will be a big problem.. Imo, we need a new government asap…

[@imortaliz]

4 months later and its now at 1.88T

[@podermon4845]

1.95T now

[@ibrahimkuyumcu2649]

Very interesting man.

[@RKHenrix]

Very good interview with a great guest!

[@didrikhalsoy5994]

The only problem I have with Nicolai is that he insists that there should be 100% taxation on inheritance. So if your parents pass away and they saved millions, straight to the government. Every single dollar I make (Norwegian Kroner) is taxed so many times from I get it till a company I spend money on, thay very little remains. If I choose to save up money for the next generation, the government should have absolutely no rights to touch that. Other than that he seems like a nice guy.

[@skymaster4121]

Well, if they gave me a billion, I’d “manage” it as best as I can! 😉

[@stevetaylor20]

Lol interesting, it's pointless. The guy has finite limits on losses and allocations which make it boring and impossible to ride out downturns in amazing companies, all of emehjch have, factually, 40%+ downturns multiple times I n their life cycle

[@Rusteneuro]

As a norwegian, I haven't gotten a dime!

[@oledevo]

Money for the norwegian people? Where is it?

[@haraldbjthunem4059]

Invested in 9000 foreign companies.

[@sailstone]

@@haraldbjthunem4059 Keyword invested.

[@Storyraymond]

Moron!

[@eddale5557]

Finaly a norwegian who can speak english in a normal way lol! Not like Stoltenberg who is the Nato boss he is so terrible that it hurt my ears to listen to him !😆😆

[@natn738]

Almost 99% of Norwegians are fluent in English. I do think the Scandinavians are well versed in English than people think. I lived in Norway and Finland .

[@hemmper]

What is this "normal way"? The way queen Elisabeth spoke? There are many Englishes. American, Australian, South African, Nigerian, Jamaican. So why shouldn't there be a Norwegian/Stoltenbergian English too. Nothing wrong with that. In fact, native speakers of English are more accustomed to hearing their language spoken in different ways than people in other parts of the world. They don't react to it. It's just oddballs like you who do.

[@moradiehot]

we are the best in the world speaking english secondhand, what a dumb thing to say.

[@oledevo]

"øøøh, øøøh... asså... we have to protect Ukraine.. asså.."

[@JT-mn5uu]

@@oledevo What have you achieved in life so far? Except for mocking people with 1000 times your intelligence, like Stoltenberg? Let us know.

[@JanErikLkken]

The larger the “Norwegian foreign fund” becomes, the weaker the Norwegian currency gets. The deeper the US sinks into debt, the stronger the dollar becomes. What is the moral of this?

[@jeschinstad]

What you are saying is not true and if you're going to divorce from reality, why not make up a more interesting story?

[@Randomdude21-e]

One reason why The Norwegian krone is weak is because of politics in Norway and tax. Another one is beacuse The norwegian bank sells alot of currency because we export more then we import. To mich currency on the marked also makes the value shrink, also we have had lower interest rates

[@PhilipAndreGjone]

@@Randomdude21-e The Norwegian economy is based on oil and fossil fuels which for more and more investors does not reflect future growth . This I believe is the main factor and it will only grow .

[@Randomdude21-e]

@@PhilipAndreGjone Norway export clean energy and gas. Leading in the ship industry, fish, and now has found the biggest find of rare earth minerals thats being used in battery,solarpanels, and the green industry. We have lower interest rates then many countries. Thats also a big factor

[@TrondTillmanSynnes]

Actually, the only reason any currency is weak, is because the BIS and Central Banks make it so. This should be obvious to most people.

[@stighenningjohansen]

The guy sucks. Its the wrong guy for the job, and I sincerely feel he should be kicked out.. He sucks up to elon musk, wich is the most union unfriendly piece of crap seen in my neigbourhood. The fund is nothing the norwegian should trus to one like him. Good night.

[@r.davidsen]

Empathy, says one of the greediest men on Earth.

[@r.davidsen]

@@peacenpowder It goes without saying. The man's wealth is 2 billions. Nobody needs that much money. In a world where people suffer needlessly, I'm not taking advice on morals and empathy by a man who makes money from speculating in stocks that deals with oil and gas, the worst pollutants on this planet after coal.

[@omff6329]

@@r.davidsen Being good at managing your own funds and sacrificing a lot by doing so makes him unempathetic? Jealousy is what I think the root of the issue is. Do you think these people have a food card with 2 billion on it? No. Its acquired assets and much much more.

[@jmasds7710]

utterly bullocks!

[@adamatid]

The worst interview ever, now I understand why AI will replace humans

[@noibj1]

Elaborate! The comment you gave, make no sense.

[@kash76]

Are you maybe AI with a terrible glitch? Because that was one of the dumbest comments in the history of dumb comments.

[@noibj1]

@@kash76 🤡🤡😜🤪Have a nice life, and watch the movie "Dumber and dumber" you are the main character 😂😂

[@frodekleppe3884]

Nicolai Tangen has a problem. He wants to have lunch with Elon Musk, but will not give him a salary. This is embarrassing for us Norwegians.

[@jonnor6883]

why is that embarrassing? he is a leader of the welfare fund, not a part of Musks empire. Of course i should question decision on Tesla and so on. Thats part of of his job. If he didn't do that would he be a crappy leader. And do Elon Musk need such a big salary? I don't think so, and I'm Norwegian

[@thomasnorb4077]

Tangen never denied Musk a salary, just an outrageous payout. You're as delusional as Musk. You certainly don't represent us Norwegians.

[@arveskjellanger4121]

@@frodekleppe3884 the fund is selling Tesla shares last months, i think they see Musk as a liability that is a financial risk

[@nicolaifr4905]

No it is not

[@TrondTillmanSynnes]

Musk's entire StarLink project runs on a Norwegian license. Why? Because Norway is the most corrupt nation in Europe, and there is absolutely no critical thinking as to adverse effects to his system. For instance, the system is being used in war, which means Norway is implicit in any crimes against humanity being committed. There is also not a single scientific study on the potential adverse effects from this system, despite the fact that it operates on the same frequencies as human biology. This is insane.

[@silentreaper9264]

Main thing Norway 🇳🇴 has succeded because their government focused on policy implementation and their public supported their government on policies rather other many EU countries like Germany,UK,France etc..where ruling and coalition political parties are just loud mouth, do no work🤣 and public too there because of those usless people on power lost faith and started protesting on all issues without any proper basis😂.

[@lionelramsal7354]

You'll never achieve this goal 🥅 with your kids cycling in your rich cities and three quarters of humanity stucked in front of their screens watching them 'lead the way' =🚮 Mr Lionel Ramsal🟥