Bill Gates Wants Norway’s $800 Billion Fund to Invest More in Africa, Asia

Balazs Koranyi, Reuters, November 15, 2013

Philanthropist and Microsoft co-founder Bill Gates called on Norway’s $800 billion oil fund, one of the biggest investors in the world, to spend more in the poorest countries, gaining the prime minister’s support with his proposal.

Gates, who runs the $37 billion Bill and Melinda Gates Foundation, said Norway should set aside a portion of the fund to invest in infrastructure in sub-Saharan Africa and Asia, and buy equity in small enterprises that alleviate agricultural and medical problems.

“Norway is by many measures one of the richest countries in the world and you can afford to take some of that money and help out people in other places,” Gates said on a visit to Oslo.

Norway is working on a complete review of the fund, including its investment strategy. Critics say it has become too big and needs to diversify away from stocks, bonds and real estate, and may even need to be broken up into specialized vehicles.

“It is part of our platform that the oil fund should invest more in developing markets,” Prime Minister Erna Solberg, who took power last month, said after meeting Gates.

“We will make sure the fund gets a mandate that allows them to invest in companies and maybe also infrastructure in these developing countries,” she said. “We believe it can give a just as good return as similar investments in developed nations.”

Gates argued that spending in poor countries, primarily on roads, rail and power, would be an investment, not a donation, as it would generate returns over time, even as the spending had a dual role of generosity.

{snip}

Norway has amassed the world’s biggest wealth fund, saving up its surplus oil revenues, and operates it as a sort of endowment, spending only its returns. It is expected to exceed $1 trillion this decade and already owns about 1.25 percent of all global equities, a huge amount for a country of 5.1 million.

{snip}

Norway is spending around $5 billion on foreign aid in dozens of countries this year, making it one of the biggest donors per capita.

But the civil sector often criticizes the government, arguing that Norway’s unusual fortunes, which have pushed per capita GDP to around $100,000, warrant even more generosity.

{snip}

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  • Magician

    Bill Gates is one of the people I despise most in this world but, I agree with him wholeheartedly in this case.

    If peace, prosperity and stability comes to Africa and Asia, then we will see less immigrants from those parts coming to the Western world. Just look at Somalia – their civil war is over, infrastructure is starting to function better and better and there are less refugees from Somalia

    • IstvanIN

      We don’t have to let them in regardless of their home situation. If we stopped them at the gates and sent them back that would stop them from coming just as effectively as dumping more Krones down the Congo rat hole.

      • Pro_Whitey

        I agree with you. Bill Gates started with crappy software, and now he’s moving into crappy policy. Does he think the Norwegians are so stupid that they cannot look back to what happened to various British, French, Dutch, and German “investments” in Africa? And if it improves Africa, it will likely lead to a lot more Africans, of which there are too dang many anyway. I think Norway should give money to the families of the victims of last week’s bus stabling by a Sudanese.

        • IstvanIN

          Or, perhaps, the Norwegians could wise up, stop taking in refugees and pay the one’s already there to leave.

        • Sick of it

          The software he bought was quite good. His own people kept screwing it up over time.

          • WR_the_realist

            Actually the software that Bill Gates bought that “made the company” was a primitive early version of DOS. It was utter crap, but it did the job of loading programs onto those early PCs, so IBM adopted it and Bill Gates was on his way to vast wealth.

            Microsoft didn’t have a real operating system until they came out with Windows NT, which Windows 2000, Windows XP, and all later versions of windows are based upon.

          • Sick of it

            I was referring to his main money maker Windows. Microsoft did not develop Windows originally. I liked the old Windows.

          • WR_the_realist

            So far as I know, Windows was developed in house. The early Windows versions (e.g., Windows 3.1 and the Windows Me) were layered over DOS. They were pretty horrid OS’s at a time when minicomputers were running a real operating system, Unix. Until Windows NT was developed Microsoft had nothing a serious programmer would call a real operating system.

  • JackKrak

    “Investing” in Africa?

    Right, just like you “invest” in people standing on street corners asking for a quarter.

  • Norway is by many measures one of the richest countries in the world

    And how did it get that way, genius? One way is by not wasting time, money, people or resources on black Africa.

    I’d like to think he’s working some sort of “diabolical” (i.e. good) angle, using this as a run-up to population control or Depo-Provera, but that’s probably wishful thinking.

  • Garrett Brown

    Norwegian prime minister is very wrong.

  • IstvanIN

    Bill Gates is an evil man

    • dd121

      I’ll give him the benefit of the doubt and just say that he is VERY naive.

      • IstvanIN

        If he’s naive I am Emperor of the Congo.

        • dd121

          Maybe I AM being too generous.

        • DerekaGrandon

          Bill Gates is a very evil clown. Which makes him double evil and dangerous.

      • Sick of it

        He has previously stated that he believes 90% of the world population needs to die. The Bill and Melinda Gates foundation was partially behind Common Core.

        • dd121

          Ok, I’ll withdraw my tentative support for Mr Gates. Further, I think he should be condemned to live the rest of his life in the state room of his yacht.

        • WR_the_realist

          I haven’t found any place where Bill Gates said such a thing. It’s obvious that he wants the black population to increase.

          • Sick of it

            www (DOT) crisismagazine (DOT) com/2013/the-ambitions-of-bill-and-melinda-gates-controlling-population-and-public-education

            Read the whole thing. Creepy guy. I saw a video of his speech on YT.

    • willbest

      Bill Gates has actually been rather successful at using other people’s money to finance his Gate’s foundation initiatives. Its more a marketing organization than a charitable foundation.

    • me

      Evil AND stupid….a deadly combination from Assberger Gates.

  • dd121

    In the grand scheme of things all that would accomplish is the birth of more useless africans and the need for another 800 billion to support them.

    • It will enable them to buy plane tickets to Norway and the rest of Europe. It will increase their population and may enable some to buy more seaworthy boats to help emigrees flee to Europe and move their families there.

      I should point out that all my mission critical software, like everybody elses’ runs on Linux, not Windows.

  • rowingfool

    Okay everybody in unison now. Bill Gates is not a philanthropist. Setting up a foundation does not mean that you love humanity. Foundations keep the taxman from getting all your wealth when you die. Foundations protect your wealth so that you may pass it intact to your heirs. Annually, Foundations must “donate” 5% of their wealth to the charities of their choice. They expect to make 8% on their investments over the long haul. Their capital does not diminish. It grows.

    In as much as the foundation gets to pick and choose those charities to whom it bestows its favors, it shapes social policy in the USA. This is clout. Mega clout. These are the people who Rule the Country and they get to write off their personal policy choices as tax deductions. How nice is that?

    Don’t be naive. They write the tax laws through their lobbyists pressuring Congress. They would hardly write them in such a way as to strip themselves of their own wealth. Do not call Bill Gates a philanthropist.

    • IstvanIN

      How do one’s heirs benefit from a Foundation? Henry Ford II sued to get the Ford family name back because the Ford’s couldn’t control the terrible things the Ford Foundation supports. He lost, so I assume the Ford family doesn’t benefit from the Foundation.

  • bigone4u

    Investing in safety for the Africaners of South Africa would be a good investment, but I doubt that’s what Bill Gates has in mind. Wasting other people’s money is Gates’ forte. I’ve sure wasted mine on his junky products.

  • Kenner

    Back in the nineties, Gates started a U.S scholarship fund for ‘non-whites only’. There were no economic qualifiers as I recall, you just couldn’t be white. I think it ran for about two years before it was altered to be more um, ‘inclusive’.

    • WR_the_realist

      Actually, there were economic qualifiers. They were basically the same as for getting a Pell grant, as I recall. But even whites who met the economic criteria didn’t qualify, because they were white.

  • Dave4088

    There’s no worse investment and bigger money pit than Africa. Nice how Bill is shaming the Norwegians into transferring their hard earned wealth to black Africans who are nature’s biggest losers.

    Bill Gates presents a mortal threat to European man and should be arrested and put in a straightjacket and a muzzle placed over his mouth like Hannibal Lecter.

  • Spartacus

    Windows 8 sucks.

    • Nathanwartooth

      I really hate it when people say that you don’t like new things because you hate/fear change.

      Windows 8 from my perspective is complete garbage. Almost every change I encountered I hated. I had to download a program just yo get a start menu back for easy access.

      The entire reason for their awful new interface is because they want to make all of their devices like their tablets, phones, operating system and XBox are all the same. Windows 8 interface is fine for tablets but horrible for PC.

      I have to use windows 8 at work but at home I use windows 7.

    • So CAL Snowman

      Meh, I like it. It’s really fast and easy to use once you get used to it. I like how much I can customize it to suit my individual preferences and I can tailor the LIVE tiles to my personal tastes. It’s also very good for streaming video from your PC to your TV, which I do all the time. Additionally I like how easy it is to link devices to my PC through Windows 8. Personally I think it’s light years forward in terms of what you can do with it compared to Windows 7 or ME. It takes a little messing around at first to get used to it, but it’s much better in the long run.

      • evilsandmich

        Wholly mackerel, you Windows 8 trolls are everywhere! 😉
        Seriously though, I’ve met enough people who like/love it that I feel like I must be missing something. Every time I use I just want to claw my eyes out.

    • Blue-eyed Devil

      I have Windows 7.

    • Windows 8 has a lot of good attributes to it, a better kernel, overall more snappy. Unfortunately, MSFT hid all those good attributes and hid them well under a retarded UI.

      ViStart or Classic Shell will restore some semblance of UI sanity to WinDoze 8 if you’re stuck with it.

    • GeneticsareDestiny

      I made sure to specifically buy a computer with Windows 7 on it when it was time to get a new one. I didn’t want to bother with Windows 8, and I don’t regret it a bit. Windows 7 does everything I want, exactly how I want.

  • WR_the_realist

    This is the same Bill Gates who wants more H-1b workers so he won’t have to hire Americans. If investing in Africa was such a winning move you wouldn’t have to strong arm politicians into doing it. Investment managers concerned solely with making a good return would do it on their own.

    • IstvanIN

      Won’t hire white Americans and specifically excludes white Americans from scholarships.

      • WR_the_realist

        I almost forgot about the Bill and Melinda Gates Foundation Millennial Scholarships. For non-whites only. If only I were a billionaire, I would set up full scholarships for whites only. I’d be portrayed as Mr. Evil by all the mass media, but I’d relish the publicity as an opportunity to remind people that the media never complained about Billy’s diversity only scholarships.

        • GeneticsareDestiny

          That would be a great use of money for a pro-white billionaire. I’d probably also donate to white South Africans and Rhodesians (if there’s even any whites left there) to help them get out of their black-induced poverty.

    • Blue-eyed Devil

      Bill Gates is a rich bastard.

  • Larry Klein

    I think Norway does more than enough absorbing all the wretched refuse they already do

  • willbest

    Norway would be better served handing substantial cash money ($100kish) to productive, native born, Norwegians who have a 3rd child

    • ViktorNN

      The world could do with many more Norwegians, and the world could do with a LOT less Africans.

  • DaveMed

    “‘Norway is by many measures one of the richest countries in the world and you can afford to take some of that money and help out people in other places,’ Gates said on a visit to Oslo.”

    What a clown. Does he believe that, if the situations were reversed, the non-white nations would be subsidizing us?

    Whites’ altruism for all but their own is truly pathological.

    • IstvanIN

      Actually some African nations, like Nigeria, are wealthy. Some nations, like Zimbabwe and SA, were wealthy. All sub-Saharan nations could be wealthy except for one little fact, can you guess what it is?

  • Sick of it

    “It is part of our platform that the oil fund should invest more in developing markets,” Prime Minister Erna Solberg

    This was the supposed nationalist Prime Minister who was supposedly going to save Norway. Same old Marxist, new hat.

    • M.

      She’s not a nationalist. She’s just center-right, or “conservative”. And we all know what today’s conservatives are like.

  • DailyKenn

    There is a difference between invest and waste.
    If there is a heft return to be made, I suspect Mr. Gates will be investing his own money.

  • Ella

    Has Bill asked Saudi, U.A.E and Kuwait to open their wallets and invest in impoverished Middle Eastern and African nations? When will the Norwegian people get tax breaks instead of paying high VAT’s and tariffs? Let’s explore here: 25% general/sales tax, 15% on foodstuffs and 8% on passenger transport services. (Wiki) They also have high income taxes! So, the govt. does not really want a higher birthing rate as they blindly hope to increase the number of future tax payers.

  • libertytribune

    Someone needs to tell Gates to go pound sand!

  • Critic_of_Leviathan

    Bill Gates, if investing in Africa is worth it, then for God’s sake, take your money and do it. This is the height of elitism.

  • Blue-eyed Devil

    Norway is too white. Diversity is needed there. They need Muslims and Africans.

  • ViktorNN

    That Norway would even consider this is a prime example of how some white people who have no experience with black people will do the stupidest stuff out of misplaced altruism.

    There are so many better things to do with that money, including a fund to either help relocate or establish a homeland for white S. Afrikaners. Or for supporting pro-white movements around the world for stopping immigration of non-whites into white countries. Or for building universities and other institutions which are unashamedly pro-Western Civilization.

    The possibilities are endless, as far as how to best help and further the white race.

    Invest money in black Africa?

    You’d have just as much success building a big bonfire of kroner and setting it on fire.

  • Funruffian

    Bill Gates is one of those few living examples of how capitalism can be destructive. If a person becomes too wealthy then they have too much power and influence. Worst yet, if that very person has political and humanitarian views that are detrimental to our country and White Europe, then I can see how someone like him is a major threat. I prefer Donald Trump’s philosophy over Gates and the rest of those despotic billionaires such as Sheldon Adelson, Orca Winfrew, et al. I am even poised to remark he is an evil man.
    When you become a billionaire virtues such as intellectualism, morality and purity are no longer required. You become a automaton who thinks in large numbers and how you can move and shake things to bolster your own ego.

  • Neels Mostert

    Do not invest in Africa. You are simply setting yourself up for more scams, wars and illegal governments to rise on this continent. These people first need to learn the value of life, honesty and civilization.

    • evilsandmich

      But think of the white guilt that gets assuaged, you can hardly put a price on that!
      (Well, I know I can…)

    • John R

      In nature, any species that is inferior does not survive, and eventually it’s numbers diminish, and it dies out. In 1800, about 20% of the world’s people were White. By 1900 that had increased to about 32%. We were the most successful race in the world. Then came the disease of liberalism, and White guilt. Now we are only around ten percent of the world’s people. Meanwhile, Africa-the most backward continent in the world-is growing rapidly in population. Why? We continue to reward their failure. We need to let the Africans die off naturally, the way it was intended. They can devolve into their natural, savage state. Giving more money to Africans makes as much sense, as feeding cockroaches, and hoping for more. I do not exaggerate.

    • Zaporizhian Sich

      Not to mention a great culling which the Africans are more than capable of inflicting upon themselves without anyone else’s help.

  • Ella

    Hey, Bill, you can invest into Detroit and turn it into a model African American city as you demand Norway to take risks in Africa. He could also pay off Detroit’s debt as a kind gesture.

  • Mahound

    It does make good business sense actually. Under good Chinese management there’s lots of money to be made in Africa. The continent was doing quite well under European colonialism, better than many Asian countries in the day. A lot of countries around the world don’t work for whatever reason, but Africa under good and strict management does.

    • Blue-eyed Devil

      John Engelman will be pleased to hear that.

    • evilsandmich

      The Chinese make money by playing a shell game of sorts where a SOE borrows (takes) money at 0% and then lends it to someplace in Africa to build a road or something that is then built by excess Chinese labor/manufacturing. It’s a kind of “vendor financing” on ‘roids. If the Africans actually pay the loan back then that’s just gravy.
      Looks good so long as you don’t balance all the ledgers, but obviously not sustainable either.

  • Harry

    Bill Gates was born in 1955. I was born in 1956 and so was Tom Hanks.

    I am only an average working man. So because Tom Hanks is my age and Bill Gates is only one year older than me, this makes me feel like a worthless loser in life!

  • MarcB1969

    Norway needs to tell Bill and Melinda they will not be tossing their nation’s billions down one of the Gate’s Foundations black holes. Just say NO to pathological altruism.

  • John R

    Norway should just tell Mr. Gates that they will manage their own affairs, and their own economy, thank you.

  • WR_the_realist

    The only charity I’d want to give to Africa (aside from what goes directly to protecting its nonhuman wild life) is free Norplant and free vasectomies.

  • WR_the_realist

    The only way you could turn the great lakes of central Africa into the next silicon valley would be by removing all the blacks and replacing them with Europeans and East Asians. But that would be racist. So there’s no non-racist way to recreate silicon valley in the middle of Africa.

  • Willowville

    There are so many Americans who have lost everything and can’t find a job. Charity begins at home.