Who is the richest wealth fund in the world?
Norway's
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.
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.
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.
PIF, which manages more than $700 billion, allocates more than 70% of its investments in Saudi Arabia. It's targeting an allocation of 20% to 25% for international investments, with the absolute number increasing over time, Al-Rumayyan said during the event.
Sovereign wealth funds are not a recent invention – Kuwait created the first modern one in 1953. Nor are they un-American: the state governments of Alaska and Texas both have sovereign funds designed to manage the revenues that have arisen from their energy booms.
Norway is home to the biggest sovereign wealth fund globally, valued at nearly $1.4 trillion. In 2023, the fund posted record profits, bolstered by tech holdings that include Microsoft, Apple, and Nvidia.
The top 1% holds $38.7 trillion in wealth. That's more than the combined wealth of America's middle class, a group many economists define as the middle 60% of households by income. Those households hold about 26% of all wealth. Low-income Americans, representing the bottom 20% by income, own about 3% of the wealth.
You need more money than ever to enter the ranks of the top 1% of the richest Americans. To join the club of the wealthiest citizens in the U.S., you'll need at least $5.8 million, up about 15% up from $5.1 million one year ago, according to global real estate company Knight Frank's 2024 Wealth Report.
In 2021, home equity and retire- ment accounts composed the majority (62.6 percent) of aggregate household wealth. Specifically, 34.1 percent of house- hold wealth was held in retire- ment accounts, and home equity accounted for 28.5 percent of household wealth.
What does Qatar own in USA?
In 2014, the Qatar Investment Authority bought a 9 percent stake in Brookfield for $1.8 billion in an effort to expand its presence in U.S. real estate. Soon after, the fund set up an office at the Solow Building on West 57th Street and formed an $8.6 billion joint venture with Brookfield to develop Manhattan West.
Property Investments in London
Canary Wharf Group Investment Holdings, which is majority owned by Qatar Holdings, is London's largest property owner, with almost 21.5m sq ft of space on its books, according to data from the research firm Datscha.
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 PIF, controlled by Saudi Crown Prince Mohammed bin Salman, has total estimated assets of $776 billion. The Saudi fund has sought frequent deals and joint ventures in its pursuit toward Vision 2030 — a plan originally launched in 2016 which aims to increase economic diversification away from oil.
The Saudi Arabian government and the Public Investment Fund (PIF), its sovereign wealth fund, own more than 98% of Saudi Aramco, making the company, through the dividends and taxes it pays, a major source of the Kingdom's income, wealth, and influence.
China is home to one of the world's largest sovereign funds, China Investment Corporation. CIC's total assets under management reached about $1.24 trillion at the end of 2022, bigger than Saudi Arabia's 2022 GDP (about $1.1 trillion). Saudi Arabia was the 17th largest economy in the world in 2022.
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. They invest for financial objectives.
BlackRock, Inc. is an American multinational investment company. It is the world's largest asset manager, with $10 trillion in assets under management as of December 31, 2023. Headquartered in New York City, BlackRock has 78 offices in 38 countries, and clients in 100 countries.
Where do sovereign wealth funds get their money?
The funding for a SWF can come from a variety of sources. Popular sources are surplus reserves from state-owned natural resource revenues, trade surpluses, bank reserves that may accumulate from budgeting excesses, foreign currency operations, money from privatizations, and governmental transfer payments.
Status, Ownership and Control – 'Very Strong': TWF is a fully state-owned entity and directly affiliated to the Presidency of the Republic of Turkiye.
With an estimated wealth of $305 billion, the Royal family of Abu Dhabi- Al Nahyan family— is known as the richest family in the world. The head of the Al Nahyan family, Sheikh Mohammed bin Zayed Al Nahyan, is the ruler and President of the United Arab Emirates (UAE).
The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau.
| Countries | Region | Wealth (USD) |
|---|---|---|
| 🇺🇸 U.S. | N. America | $5,813,000 |
| 🇸🇬 Singapore | Asia | $5,227,000 |
| 🇸🇪 Sweden | Europe | $4,761,000 |
| 🇦🇺 Australia | Oceania | $4,673,000 |
