"Why don't we have a wealth fund? Other countries have wealth funds. We have nothing," former president Donald Trump stated, emphasizing the need for a U.S. sovereign wealth fund.
Knut Kjaer, the first manager of Norway's oil fund, expressed skepticism about the U.S. proposals, stating, "The U.S. proposals are not related to what we have done in Norway."
Officials from the Biden administration, led by Jake Sullivan, have been developing their own sovereign wealth fund plan but did not claim the same levels of ambition as Trump.
Norway's oil fund, with its significant economic impact, serves as a model and point of envy for both American political sides, even as the U.S. contemplates its own fund.
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