Lots of countries have so much oil and gas wealth that they don’t know to do with it.
Some U.S. states do too.
So they put it into a sovereign wealth fund — basically a giant, actively-managed investment portfolio.
Here’s a map of every sovereign wealth fund in the world, via the Sovereign Wealth Fund Institute (red=oil and gas, blue=not, although we think there’s some overlap).
Here is what stood out to us:
- Most people know about Alaska’s oil fund. But did you know Alabama, Louisiana, New Mexico, North Dakota, Texas and Wyoming also have SWFs? New Mexico’s is valued at $16.3, larger than Chile’s Social and Economic stabilisation fund. Most of these are from oil and gas royalties, although some, like New Mexico, have quirkier origins like a massive tobacco company settlement.
- Norway’s fund, worth $737 billion and the world’s largest, is larger than every fund in Africa and Europe (including Russia’s two funds worth $187 billion) combined.
- The tiny island of Kiribati, a few hundred miles south of Hawaii, has its own fund (it’s worth $600 million).
But you gotta see the whole interactive thing to learn more (click here).
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