Norway's $2.34tn oil fund may not last forever, Nicolai Tangen
Norway's massive $2.34 trillion oil fund might not last forever, says CEO Nicolai Tangen.
He called it the country's "piggy bank," but warned that fortunes can fade and no nation has kept a huge reserve for good.
Tangen urged Norwegians to be ready for big ups and downs since the fund's value depends on global markets.
Norway fund posts $184bn August profit
Even with those warnings, the fund scored a record $184 billion profit in August 2026, mostly from booming tech stocks in Asia and the US.
About two-thirds of its money is in equities, including major stakes in NVIDIA ($61.8 billion), Apple ($52.7 billion), a small SpaceX stake ($1.2 billion), and Tesla (nearly $16 billion).
The fund keeps diversifying into fixed income, real estate, and renewable energy infrastructure while balancing risks from market swings.