Over the previous couple of years, I even have been grappling with a seeming contradiction: the right way to enable a high-performance culture based on values? To explore this, I even have been in search of a philosophy that sees progress and activation as something deeply human, and that forms the premise for a culture where each collectivism and individualism can thrive. I call this the “Viking Code.” I used to be inspired by my home country Norway and its extraordinary individuals and achievements in sports, education, politics and business. However, the Viking Code will not be limited to Norway; it has the potential to function a universal compass.
A cool autumn day within the streets of Paris. I even have the honour and pleasure of addressing a bunch of leading CEOs and politicians on the Royal Norwegian Embassy – La Norvège en France. The conversations that day usually are not your typical business talks. They are marked by a deep sense of purpose and a commitment to a cause that goes beyond profit, enriched by the pinnacle of the world’s largest sovereign wealth fund, Nicolai Tangen.
When I take heed to Tangen, I realize how deeply rooted he’s in Norwegian culture. Tangen combines personal success with a deep commitment to the common good. In him, I see the inspiration for a brand new understanding of accomplishment and success.
A couple of months later, I meet Tangen again on the snowy streets of Davos throughout the World Economic Forum. Although he’s in a rush, on a good schedule and carrying his typical Norwegian backpack, he still seems to have limitless time for a conversation. There is something magical about individuals who appear to have time, are present and yet still achieve a lot.
Modern leadership
Tangen, together with his distinctive Norwegian-English accent and all the time carrying his backpack, embodies the image of the fashionable Viking: all the time on the move, always energetic and busy. His birthplace of Kristiansand is modest and leaves little to be guessed at how he could have conquered such a unprecedented position. As head of Norges Bank Investment Management, he manages the Norwegian sovereign wealth fund. Established in 1990, this fund is the backbone of the Norwegian economy and comes from the growing surpluses of the Norwegian oil sector. The aim is to take a position the present revenues from Norwegian oil and gas production for the long run with a purpose to preserve them for future generations within the post-oil era.
To this end, the fund invests in quite a lot of assets worldwide, including equities, bonds and real estate. Tangen has increased the transparency of the fund for instance, by publishing the fund’s voting decisions five days before annual general meetings. This has strengthened the fund’s influence on corporate governance and climate initiatives. Under Tangen’s momentum, this fund is prospering. Since the takeover in September 2020, the fund has grown steadily from $1.1 trillion to $1.7 trillion despite all the worldwide challenges. That equates to about $300,000 per Norwegian, and the long-term average return of about 6% per 12 months has increased confidence within the fund.
Traditionally, the CEO of the sovereign wealth fund has operated behind the scenes, but Tangen shines in public. His podcast In good companyavailable on platforms similar to YouTube And Spotifyhas caused a stir. Tangen is a modern-day influencer. He shares information on corporate affairs and entrepreneurship, educates on climate and sustainability, and provides behind-the-scenes insights into his fund while talking to leading figures in business and media.
Accessible, down-to-earth but focused, he advocates a brand new performance ethic within the podcast by sharing his views on exertions and his values with the general public. He reaches young people, most people, investors and entrepreneurs alike. Sometimes you see him in sportswear harking back to football star Erling Haaland; sometimes he talks about tech giants like OpenAI founder Sam Altman or exchanges ideas with big names like Bill Gates, Elon Musk, Larry Finkor Satya NadellaThe audience gets the impression that Tangen is considered one of us, but additionally a pacesetter who stands out and carries a complete community together with him. This not only cleverly sharpens the fund’s profile, but additionally arouses interest and positions it as a lovely employer in the worldwide “war for talent”. What was once a conventional leadership role is now delivered to life by Tangen as modern leadership.
Dispute over Elon Musk
Tangen consistently upholds the assumption that success is achieved through exertions and dedication. He keeps an eye fixed on the large picture but stays true to his short-term micro-ambitions, appreciating the method and the small moments that contribute to the conclusion of larger ambitions. Meeting him is like taking a fast dip in a whirlpool of dedication, ambition and inspiration.
Through his actions and words, Tangen embodies a rejection of traditional norms, but he does so by weaving his individual success story into the larger narrative of collective progress. He is a testament to the potential of the Viking Code, where individual drive and community spirit can form a strong symbiosis for change. Tangen’s story will not be just considered one of financial acumen, but a bigger narrative about leadership, influence, and the transformative power of redefining success. In Tangen’s world, success is measured not only by balance sheets and stock valuations, but by the impact one can have on society and the environment.
Tangen manages to strengthen his personal brand while consistently emphasizing the values of the collective. And that brand has power. Companies wherein Tangen invests through the Norwegian sovereign wealth fund are aware that any misstep – be it when it comes to climate or ethical values – may lead to a lack of repute in today’s media landscape. This will not be only because Tangen addresses these deficiencies openly but additionally since it doesn’t shrink back from withdrawing funds, which may significantly affect the share price.
A current example is his Podcast with Tesla CEO Elon MuskShortly after the very open and harmonious conversation, Tangen opposed Musk’s high salary demandsand the issue became public. Tangen is skeptical of the event and says: “We see that corporate greed has reached unprecedented levels, and it is really going to be very expensive for shareholders in terms of dilution.” Musk unfollowed Tangen on his platform X, however the Image loss got stuck with the fickle billionaire. The values weren’t compatible 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 considerable influence.
Tangen’s approach is a mix of traditional Norwegian wisdom and modern global awareness. He understands that true leadership goes beyond financial success; it’s about shaping a greater world where economic prosperity coexists with environmental responsibility and ethical integrity. He is a task model who not only leads his firms to profitability, but additionally encourages them to make a positive contribution to the planet and society.
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