Here's a slightly mind-blowing number for you this morning:

#Norway's #sovereignwealth fund owns 1.5% of all shares issued across global stockmarkets;

Now that's what looks like a useful investment of the windfall from exploring #oil fields... so remind me again what the UK did with its #NorthSea windfall?

Oh that's right, tax cuts in the 1980s... well that's OK because that underpinned the long-term investment in the future success of the UK economy....

Oh, hold on...

“While pension funds or university endowments should allow the #NBA to bring in relatively quiet investors, the league risks controversy if it allows a #sovereignwealth fund into its group of owners”
“The English Premier League faced a storm of criticism when a Saudi Arabian investment fund bought Newcastle United last year” #sportswashing

NBA allowing sovereign wealth funds to invest in teams: What it means, and why it’s risky https://theathletic.com/3957707/2022/12/01/nba-sovereign-wealth-funds-ownership/ #privateequity