Russian National Wealth Fund is Russia's Sovereign Wealth Fund. It was created after the Stabilization Fund of the Russian Federation was split into two separate investment funds on 30 January 2008. The two funds are Reserve Fund, which is invested abroad in low-yield securities and used when oil and gas incomes fall, and the National Wealth Fund, which invests in riskier, higher return vehicles, as well as federal budget expenditures. The Reserve Fund was given $137,09 billion and the National Welfare Fund was given $87,97 billion. The fund is controlled by the Ministry of Finance.
The National Wealth Fund will receive funds from investments returns or any excess funds that the Reserve Fund produces. The Reserve Fund is capped at 10% of Russian GDP and any funds over that will be given to the Wealth Fund.
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“Whatever qualities [Tsar Nicholas I] may have shown in his own kingly profession, it must be admitted that in his dealings with the Russian Muse he was at the worst a vicious bully, at the best a clown.”
—Vladimir Nabokov (1899–1977)
“But for the national welfare, it is urgent to realize that the minorities do think, and think about something other than the race problem.”
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“and I really hope no white person ever has cause to write about me
because they never understand Black love is Black wealth and
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probably talk about my hard childhood and never understand that
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—Nikki Giovanni (b. 1943)
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