Norway’s PM Reverses Course: Moves Millions Back Into Funds

Norwegian Prime Minister Jonas Gahr Støre has re-invested 50 million kroner in funds, reversing a 2020 decision to place the money in a bank account, according to recent filings with Brønnøysundregistrene. The move comes after years of scrutiny over the source and management of his personal wealth.

Støre initially decided to move the funds to a bank in July 2020, stating he wanted to avoid potential conflicts of interest and ensure his personal finances did not detract from his political work. This decision followed criticism during the 2017 and 2019 election campaigns regarding his investments, including holdings in the Irish firm Egerton Capital and a stake in a private healthcare company, as reported by NRK.

The prime minister’s wealth largely originates from an inheritance from his grandfather, who owned the oven manufacturer Jøtul. He further increased his assets through an inheritance from his mother in 2021, according to Kapital.

The latest financial statements for Støre’s company, Femstø AS, indicate the 50 million kroner investment in funds as of year-end 2025. Approximately 10 million kroner remains in bank deposits and cash, the filings indicate. Støre also took 10 million kroner in dividends last year, down from 12 million kroner the previous year.

The shift back to fund investments has not been publicly addressed by the Prime Minister’s office. E24 reported reaching out to the office on Tuesday evening and Wednesday morning for comment but did not receive a response.

During the 2017 campaign, Støre faced questions regarding his investments with Egerton Capital, prompting him to move the funds to DNB. Further scrutiny arose in 2019 when it was revealed he held a little investment in a private healthcare provider. Støre maintained at the time that the healthcare investment amounted to only 170 kroner.