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Norway wealth fund CEO warns of potential total loss of value
Nicolai Tangen, CEO of Norges Bank Investment Management, has warned that Norway’s approximately $2 trillion sovereign wealth fund could potentially lose all its value. Speaking at a political conference in Arendal, Tangen noted that while the fund is one of the world's largest and safest pools of capital, its total disappearance is “not completely improbable” in the current global climate.
Tangen described current market conditions as “abnormal,” citing a disconnect between rising stock markets and mounting geopolitical tensions. He identified several extreme risks, including nuclear war, biological terrorism, and a long-term economic depression. Specifically, he warned that a burst in the artificial intelligence bubble combined with a trade war between the United States and China could mirror the 1929 crash, potentially erasing at least 80 percent of the fund's equity value.
Such a significant loss would have profound domestic consequences for Norway, potentially impacting the national defense budget and the healthcare system. The fund, which is financed by state revenues from oil and gas, currently invests in stocks, bonds, and real estate globally to secure wealth for future generations.
Entities
Arendal · Nicolai Tangen · Norges Bank Investment Management · Norway
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 4 SOURCES] The Norwegian sovereign wealth fund could potentially lose all its value. www.pravda.sk · bitcoinethereumnews.com · www.klubradio.hu · sapo.pt
- [● 2 SOURCES] Current global market conditions are abnormal due to the gap between investor optimism and geopolitical risks. bitcoinethereumnews.com · www.klubradio.hu
- [○ 1 SOURCE] Stocks accounted for 71.3 percent of the fund's value at the end of 2025. bitcoinethereumnews.com
- [○ 1 SOURCE] A massive loss in fund value would impact Norway's defense budget and hospitals. sapo.pt
- [● 2 SOURCES] A crisis similar to the 1929 crash could erase at least 80 percent of the fund's equity investments. www.pravda.sk · sapo.pt
- [○ 1 SOURCE] The bursting of an AI bubble combined with a US-China trade war is a potential risk factor. www.pravda.sk