economy
World's largest sovereign wealth fund posts record $184 billion profit as it reveals SpaceX stake for the first time
The fund — currently valued at around $2.34 trillion — is an investor in more than 7,000 companies across 60 countries.
TL;DR
- Norway's sovereign wealth fund reported a record profit of over $184 billion in the first half of the year.
- The profit was driven by strong returns in the equity market, particularly Asian technology stocks.
- The fund disclosed a 0.05% stake in SpaceX, valued at over $1.2 billion.
- NBIM has a history of challenging Elon Musk's compensation packages and had a strained relationship with him.
- The fund's most valuable holdings include shares in Nvidia, Apple, and Microsoft.
- CEO Nicolai Tangen warned that such large fortunes can be lost over time, referencing historical precedents.
- The semiconductor sector played a significant role in the fund's first-half growth.