Sovereign wealth funds have made headlines over the last few months as a sinking dollar and surging crude prices have enabled foreigners to snatch up symbolic American assets at Walmart prices.
For example, the Kuwaitis saved Citigroup. Abu Dhabi bought the Chrysler building. This weekend, the Post revealed that an unidentified sovereign wealth fund is shopping for thousands of foreclosed homes.
So just who are these sovereign wealth funds? How rich are they? The Council on Foreign Relations offers the following handy list. But here’s the bottom line: In aggregate, the top 10 funds have $2.6 trillion to invest.
TOP 10 SOVEREIGN WEALTH FUNDS
1. The United Arab Emirates — $875 billion. Over $1,000,000 per UAE citizen.
2. Singapore* — $490 billion, $105,000 per citizen.
3. Norway — $341 billion, $80,000 per citizen.
4. Saudi Arabia — $300 billion, $10,869 per citizen.
5. Kuwait — $250 billion, $75,000 per citizen.
6. China — $200 billion, $150 per citizen.
7. Libya — $50 billion, $8,000 per citizen.
8. Algeria — $43 billion, $1,200 per citizen.
9. Qatar — $40 billion, $30,599 per citizen.
10. U.S. (Alaska) — $38 billion, $55,000 per citizen.**
*The two Singapore funds are combined.
**Alaska (?!). Yes–the fund manages the state’s oil revenue. A state-run corporation empowered by an ammendment to the state constitution manages a per cent of the state’s oil revenues and distributes a performance-based dividend. Last year’s was $1,654 per person.
Business Insider Emails & Alerts
Site highlights each day to your inbox.