Norway’s Sovereign Wealth Fund Reports Record $222 Billion Profit In 2024, Fueled By Tech Rally

by THEFUTURE.TEAM

January 29, 2025

Norway’s $1.8 trillion sovereign wealth fund, the world’s largest, posted a record annual profit of 2.51 trillion crowns ($222 billion) in 2024, surpassing its previous high of 2.2 trillion crowns in 2023. The strong performance was largely driven by surging U.S. technology stocks.

“The American technology stocks in particular performed very well,” said Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), which manages the fund.

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The fund, built from Norway’s oil and gas revenues, is one of the world’s largest investors, holding about 1.5% of all publicly listed stocks globally. By the end of 2024, nine of its ten largest equity holdings were tech companies, with Apple, Microsoft, and Nvidia leading the portfolio.

Despite its strong returns, the fund’s 2024 investment performance of 13% was 0.45 percentage points below its benchmark index. Equity investments delivered an 18% return, while fixed income gained 1%. However, unlisted real estate and renewable energy infrastructure underperformed, returning -1% and -10%, respectively.

At year-end, the fund’s portfolio allocation stood at 71.4% in equities (up from 70.9% in 2023), 26.6% in bonds (down from 27.1%), 1.8% in unlisted real estate, and 0.1% in renewable infrastructure.

The fund received 402 billion crowns in inflows from the Norwegian state in 2024, significantly lower than the 2022 record of nearly 1.1 trillion crowns.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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