in the final weeks leading up to the election Donald Trump and Joe Biden found some common ground on at least one thing the wisdom of creating some form of sovereign wealth fund for the United States but that they’ve worked for some countries doesn’t necessarily mean they’d worked for the world’s largest economy so it’s really interesting that in this really polarized um environment that we’re living both Trump and uh Biden are thinking about possibly a starting a national sere wealth Fund in the United States the idea that we should somehow be systematically setting up some government authority to make broad investments in the economy of our country or the economy of other countries seems kind of crazy to me over 80 countries around the world have Sovereign wealth funds state-owned funds that invest the country’s cash reserves for the long-term good of its citizens and the economy globally assets under managed in all swfs total 122.8 trillion up more than tfold over the last two decades we have invested in 9,000 companies around the world we own 1 and a half% of all the equities in the world in Europe we we own close to 3% and then we own uh bonds and we own real estate