What do they invest in?
USA has 60x the population of Norway. So the American equivalent would be rich enough to own… 90% of all listed companies in the world!
That’s just a provocative thought experiment. But it highlights the stark difference between how nations allocate their wealth. Some have centibillionaire oligarchs and airplane carriers and space programs, others have well-managed sovereign wealth funds and universal healthcare.
Have you met people? Have you worked for the US govt or large enterprise? My gut tells me this would be a huge misallocation of funds and destructive to business if it were to be replicated in the US.
Indeed America now has "innovators capable of making humanity multi-planetary" (whom some would call egoistic oligarchs) + mostly shit government (and politicians who want to keep it that way).
Could it have taken a different path in the past to instead have well-managed national wealth and less dick-shaped chrome rockets? Would that still be possible?
This page says thay have about 1.1 Trillion dollars in Equities (after converting from NOK):
https://www.nbim.no/en/investments/all-investments/#/
Which is about 1% of the total global market cap of about 109 Trillion or so.
The other investments aren't stocks.