| Among the reasons Norwegians can celebrate Norway are the '80s band A-ha, the narrow geological formations called fjords, oil and the biggest sovereign wealth fund in the world. The sovereign fund, which the country uses for investments that benefit their economy and people, reached 5.1 trillion crowns, or about $818 billion, due in large part to the rising price of oil, according to a report out this week.
That surge in the fund, called the Government Pension Fund Global, theoretically makes each of Norway's 5,096,300 people a millionaire in crowns. Translated into dollars the fund's crowns (spelled "krone" in Norway) per capita is about $161,660, said Michael Maduell, president of the Sovereign Wealth Fund Institute....................................Full Article: Source
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