Norway’s USD 1 trillion wealth fund snared by scandal over its CEO

The world’s biggest sovereign wealth fund faces serious questions over the conduct of its outgoing chief executive and the selection process of his successor amid a scandal involving a luxury jet and a private performance by Sting.

Yngve Slyngstad, outgoing CEO of the oil fund. | Photo: Heiko Junge / NTB scanpix

BY MIKAEL HOLTER AND JONAS CHO WALSGARD / BLOOMBERG

CEO Yngve Slyngstad has had to explain why he accepted a flight paid for by Nicolai Tangen, the hedge-fund manager who was eventually tapped to succeed him. The development has now prompted Norwegian authorities to look into convening an emergency meeting to examine more closely the circumstances under which Tangen was selected.

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Norway’s USD 1 trillion wealth fund snared by scandal over its CEO

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Further reading

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