Over the previous few years, I’ve been grappling with an obvious contradiction: The way to allow a high-performance tradition rooted in values? To discover this, I’ve been looking for a philosophy that understands progress and activation as one thing deeply human and that varieties the muse for a tradition through which each collectivism and individualism can flourish. I name this the “Viking Code.” I used to be impressed by my homeland, Norway, and its extraordinary people and achievements in sports activities, schooling, politics, and enterprise. Nevertheless, the Viking Code shouldn’t be restricted to Norway; it has the potential to function a common compass.
A cool autumn day within the streets of Paris. I’ve the honour and pleasure of talking earlier than a bunch of main CEOs and politicians on the Royal Norwegian Embassy—La Norvège en France. The conversations on this present day aren’t typical enterprise discussions. They’re imbued with a deep sense of goal and a dedication to a trigger larger than revenue, enriched by the top of the world’s largest sovereign wealth fund, Nicolai Tangen.
As I hearken to Tangen, I notice how deeply rooted he’s in Norwegian tradition. Tangen combines private success with a deep dedication to the widespread good. In him, I see the muse of a brand new understanding of accomplishment and success.
A number of months later, I meet Tangen once more on the snowy streets of Davos through the World Financial Discussion board. In a rush and with a decent schedule, carrying his typical Norwegian backpack, he nonetheless appears to have limitless time for a dialog. There’s something magical about individuals who appear to have time, are current, and but accomplish a lot.
Trendy management
Tangen, along with his distinctive Norwegian-English accent and at all times on the transfer along with his backpack, embodies the picture of the fashionable Viking: at all times in movement, consistently lively, and busy. His birthplace, Kristiansand, is modest and hardly suggests how he might have conquered such a unprecedented place. As head of Norges Financial institution Funding Administration, he manages the Norwegian sovereign wealth fund. This fund, established in 1990, is the spine of the Norwegian financial system and originates from the burgeoning surpluses of the Norwegian oil sector. The purpose is to take a position the present revenues from Norwegian oil and gasoline manufacturing long-term to protect them for future generations within the post-oil period.
To this finish, the fund invests globally in a wide range of property, together with shares, bonds, and actual property. Tangen has elevated the fund’s transparency by, for instance, publishing the fund’s voting choices 5 days earlier than the annual normal conferences. This has strengthened the fund’s affect on company governance and local weather safety initiatives. Beneath Tangen’s dynamism, this fund thrives. Since taking on in September 2020, the fund has steadily grown from $1.1 trillion to $1.7 trillion, regardless of all world challenges. This equates to about $300,000 per Norwegian, and the long-term common return of about 6% per yr has strengthened belief within the fund.
Historically, the CEO of the sovereign wealth fund operated behind the scenes, however Tangen shines within the public eye. His podcast In Good Firm, out there on platforms like YouTube and Spotify, has garnered consideration. Tangen is a sort of trendy influencer. He informs about company affairs and entrepreneurship, educates about local weather and sustainability, and supplies insights behind the scenes of his fund whereas talking with main figures from enterprise and media.
Accessible, down-to-earth, however targeted, he advocates on the podcast for a brand new efficiency ethic by sharing his views on laborious work and his values with the general public. He reaches younger folks, most of the people, traders, and entrepreneurs alike. Typically you see him in sportswear paying homage to soccer star Erling Haaland; different occasions he talks about tech giants like OpenAI founder Sam Altman or exchanges concepts with greats like Invoice Gates, Elon Musk, Larry Fink, or Satya Nadella. The viewers will get the impression: Tangen is one in every of us, but in addition a frontrunner who stands out and carries a whole neighborhood with him. This not solely cleverly sharpens the profile of the fund but in addition awakens curiosity and positions it as a gorgeous employer within the world “conflict for expertise.” What was as soon as a conventional administration position has been delivered to life at this time by Tangen as trendy management.
Elon Musk dispute
Tangen constantly represents the assumption that success is achieved by means of laborious work and dedication. He retains the massive image in thoughts however stays grounded in his short-term micro-ambitions and appreciates the method and the small moments that compound into the conclusion of bigger ambitions. Assembly him is sort of a transient dive right into a whirlpool of dedication, aspiration, and inspiration.
Via his actions and phrases, Tangen embodies a rejection of conventional norms, but he does so by weaving his particular person success story into the bigger narrative of collective progress. He’s proof of the potential of the Viking Code, the place particular person drive and neighborhood spirit can construct a strong symbiosis for change. Tangen’s story is not only one in every of monetary acumen however a broader narrative about management, affect, and the transformative energy of redefining success. In Tangen’s world, success is measured not solely in stability sheets and inventory valuations but in addition within the impression one can have on society and the atmosphere.
Tangen manages to strengthen his private model whereas constantly emphasizing the values of the collective. And this model possesses energy. Firms through which Tangen invests by means of the Norwegian sovereign wealth fund are conscious that any misstep—whether or not when it comes to local weather or moral values—might result in a lack of fame in at this time’s media panorama. This isn’t solely as a result of Tangen overtly addresses these shortcomings but in addition as a result of he doesn’t hesitate to withdraw funding, which may considerably impression the inventory worth.
A current instance is his podcast with Tesla CEO Elon Musk. Shortly after the very open and harmonious dialog, Tangen opposed Musk’s excessive wage calls for, and the problem grew to become public. Tangen views the event skeptically, saying, “We see that company greed has reached a degree we’ve got by no means seen earlier than, and it’s changing into actually very costly for shareholders when it comes to dilution.” Musk unfollowed Tangen on his platform X, however the picture loss caught with the mercurial billionaire. The values weren’t suitable with the Norwegian sovereign wealth fund. The fund has over 9,000 holdings and owns 1.5% of all publicly traded shares. A minority shareholder with important affect.
Tangen’s strategy is a mix of conventional Norwegian knowledge and up to date world consciousness. He understands that true management goes past monetary success; it’s about shaping a greater world the place financial prosperity coexists with ecological duty and moral integrity. He stands as a beacon, main not solely his firms to profitability but in addition encouraging them to contribute positively to the planet and society.
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