Nicolai Tangen raised profile of Norway’s $2.1 trillion fund with podcast

Nicolai Tangen, chief executive of Norges Bank Investment Management, has raised the public profile of Norway’s $2.1 trillion sovereign wealth fund through media appearances and a weekly podcast that has made him widely known. Mr. Tangen began the more public approach after becoming chief executive in 2020 and has interviewed executives such as Elon Musk and Sam Altman on his show.

He says the visibility is good for transparency, helps Norwegians understand where the fund invests and aids recruitment. Since he took the job the fund’s value has risen about 80 percent, and he was appointed to a second five-year term in March, after being credited with strong results.

Critics and some analysts say his prominence has exposed the fund to greater scrutiny and geopolitical risk. In August, political pressure over investments in Israeli companies linked to the Gaza war prompted the fund to sell stakes in about half of those firms, stop using an external Israeli fund manager and divest from Caterpillar; the Trump administration called the Caterpillar decision “very troubling.” In November, Norway’s finance minister suspended the ethical rules that underpinned those decisions and said they would be reviewed.

Norges Bank Investment Management declined to comment on the divestments. Mr. Tangen has not substantially retreated from public engagement: he continues to comment on corporate and climate issues and, after text messages with Mr.

Key Topics

Business, Nicolai Tangen, Norges Bank, Sovereign Wealth Fund, Caterpillar, Elon Musk