The Norwegian oil fund's market value is updated several times every passing second on its website nibm.no. As European equities have continued to decline in value since trading opened this morning, the counter has kept dropping.
At the time of writing, the fund's market value is roughly NOK 9,669 billion (EUR 871 billion). Meanwhile, at the start of the year, the figure was NOK 10,088 billion (EUR 982 billion), meaning that the fund's market value has declined by NOK 419 billion (EUR 111 billion).
This means that the fund has declined by roughly NOK 80.000 per Norwegian, calculated from a population estimate of 5,356,789 reported at the end of Q3 in 2019 by lifeinnorway.net.
When the fund increased its equity share to 70 percent it became the single largest owner of equities in the world, owning on average 1.4 percent of every listed company.
This post originally appeared on AM Watch.
