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'People Of North Dakota Are The Norwegians Of America,' Says Kevin O'Leary—'Their Net Worth Per Capita To Be No. 1 In The US' Here's Why

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'People Of North Dakota Are The Norwegians Of America,' Says Kevin O'Leary—'Their Net Worth Per Capita To Be No. 1 In The US' Here's Why


Kevin O’Leary, the investor perhaps best known for his sharp takes on ABC’s “Shark Tank,” is betting big on North Dakota. And he believes the state is poised to take the top spot in America for wealth per person.

“I believe that the people of North Dakota are the Norwegians of America because their net worth per capita is going to be No. 1 in the U.S. soon,” O’Leary recently posted on X. “They have so much wealth in the ground and there are only 750,000 of them!”

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From Shark Tank to Statewide Investments

O’Leary’s confidence isn’t just talk. Through his Wonder Fund North Dakota, he’s managing a $45 million investment initiative focused on early-stage companies, according to the O’Leary Ventures website. The fund is part of the State Small Business Credit Initiative and aims to unlock even more private capital for local startups.

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O’Leary’s North Dakota journey began nearly a decade ago with an $80,000 investment in Fargo-based PRx Performance—one of the most successful pitches in Shark Tank history. “That really opened me up to the possibilities of what we can do in Fargo, Bismarck, and everywhere else in North Dakota,” O’Leary told Fargo INC! in 2023.

But O’Leary says the real draw is the state’s business-friendly environment. “I would never do a fund like this in New York, New Jersey, Massachusetts, or California,” he said. “Those states are uninvestable… North Dakota is very competitive, particularly now.”

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He credits the state’s pro-business policies, remote work advantages, and stable government as key factors in attracting capital. “This is a golden period for North Dakota, it really is,” O’Leary told Fargo INC!. “It’s going to come out swinging as a competitive state. It’s no longer just Texas or Florida anymore.”

Wonder Fund: Where the Money’s Going

The Wonder Fund is multisector but focused on tech, agriculture, agtech, land, and energy—especially projects that sequester carbon. O’Leary says the goal is not only to invest state money wisely, but also to attract 10 to 30 times more capital alongside it.

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Transparency is also a major part of the strategy. The fund gives state officials real-time access to detailed data on every investment. “As a fiduciary, I feel the best thing to do is to shine a light on everything,” O’Leary said.

See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.60 per share now.

The Legacy Fund Connection

O’Leary’s optimism ties into the broader financial foundation being built in North Dakota. Just like in Norway, the state’s $11 billion Legacy Fund, a sovereign wealth fund backed by oil and gas tax revenue, is designed for long-term prosperity.

With the 2024 passage of Measure No. 3, the fund became even more future-focused. Lawmakers can now access only 5% of the fund’s principal during each two-year budget cycle, down from 15%. This means more of the fund can be invested long-term, with a projected $30 million boost in earnings in just the first year.

“The Legacy Fund was created to provide financial stability and deliver sustained economic benefits for North Dakotans,” said state Rep. Glenn Bosch, vice chair of the Legacy and Budget Stabilization Fund Advisory Board.

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According to the Retirement and Investment Office website, the fund has already transferred more than $1.8 billion to the general fund over the last three budget periods, helping fund infrastructure, tax relief, and other projects. Another $601 million is set to transfer in June.

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ND Division A state girls: Thompson survives upset bid, Kindred edges Hazen

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ND Division A state girls: Thompson survives upset bid, Kindred edges Hazen


JAMESTOWN, N.D. — The No. 2 seed Thompson Tommies survived an upset scare by defeating the No. 7 seed Rugby Panthers 39-36 on Thursday, March 5, in the quarterfinals of the North Dakota Division A girls basketball state tournament at the Jamestown Civic Center.

With 16 seconds left in the game and down 39-36, Panthers coach Jen Brossart drew up one final play in an attempt to send the game to overtime. Strong defense from the Tommies formed a cluster of players at the top of the arc, and as time expired, Panthers guard Avery Santjer put up a falling-away 3-point attempt that came up short, giving the quarterfinal victory to Thompson.

Addison Sage had 15 points to lead Thompson with Kya Hurst chipping in 11. Santjer led Rugby with 13.

Burchill’s double-double leads Valley City to win

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Valley City junior forward Katie Burchill scored a 23-point double-double with 18 rebounds to lead the Hi-Liners to a 64-44 quarterfinal victory over Devils Lake on Thursday.

Valley City outscored Devils Lake 21-6 in the third quarter to take a commanding lead.

Presley Brown and Tylie Brodina each scored 12 for the Firebirds.

Burchill and sophomore forward Skye Nelson also recorded nine of Valley City’s 12 blocks.

Rylee Routledge (1) of South Prairie-Max stares down Watford City’s Lohgan Hanna on Thursday, March 5, during the 2026 NDHSAA Division A Girls Basketball State Tournament at the Jamestown Civic Center.

John M. Steiner / The Jamestown Sun

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South Prairie-Max runs past Watford City

South Prairie-Max scored a 50-point victory over Watford City, winning 75-25 on Thursday in the quarterfinals behind 19 points from Skotti Beck.

Mya Gunville added 12 points and Brianna Rose 11 for South Prairie-Max.

Lohgan Hanna led Watford City with nine points.

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Trenbeath, Kindred squeak by Hazen

Liza Trenbeath’s 27 points paced No. 4 seed Kindred to a 56-54 win over No. 5 Hazen in Thursday’s quarterfinals.

Siera Nipstad chipped in 19 points and six rebounds as the Vikings (20-5) advanced to Friday’s state semifinals against top-seeded South Prairie-Max (24-1). Tipoff is set for 8:15 p.m. at the Jamestown Civic Center.

Kindred shot 22 of 51 (43.1%) from the field to Hazen’s 19 of 41 (46.3%)

Our newsroom occasionally reports stories under a byline of “staff.” Often, the “staff” byline is used when rewriting basic news briefs that originate from official sources, such as a city press release about a road closure, and which require little or no reporting. At times, this byline is used when a news story includes numerous authors or when the story is formed by aggregating previously reported news from various sources. If outside sources are used, it is noted within the story.

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Video: A look at North Dakota’s 2026-2028 Fishing Guide

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Video: A look at North Dakota’s 2026-2028 Fishing Guide


Greg Power, fisheries division chief with the North Dakota Game and Fish Department, shares information about the new 2026-2028 Fishing Guide and a few new regulations starting April 1, 2026.

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Summit League tournament: Omaha women bounce North Dakota

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Summit League tournament: Omaha women bounce North Dakota


SIOUX FALLS — Ali Stephens had 17 points and 13 rebounds and 8th-seeded Omaha defeated 9th-seeded North Dakota 49-39 in the first round of the Summit League women’s tournament.

The Fighting Hawks had a tough time putting the ball in the hoop all night long, scoring just three points in the first quarter and having only marginally better luck from there.

UND (7-24) shot just 23.5 percent from the floor (12-for-51) and made 1-of-20 shots from outside the arc. Walker Demers and Mackenzie Hughes had 10 points each to lead the Hawks, with Demers adding eight rebounds.

Members of the Omaha women’s basketball team cheer for their teammates during the opening game of the Summit League tournament on March 4, 2026 at the Premier Center in Sioux Falls.

Matt Zimmer/Sioux Falls Live

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Regan Juenemann had 10 points and five rebounds for the Mavericks while Avril Smith had seven points and 16 rebounds and Sarai Estupinan eight points, five assists and three rebounds. Omaha (6-26) shot the ball slightly better than the Hawks, going 16-of-53 from the field (30 percent) and 8-of-23 (35 percent) on 3-pointers.

With the win, the Mavs earn a date with top-seed North Dakota State on Thursday at 2:30 p.m.
The Bison won both regular season matchups by more than 50 points.

030426-IMG_7760.JPG
North Dakota’s Mataeya Mathern goes up for a shot during the opening game of the Summit League tournament on March 4, 2026 at the Premier Center in Sioux Falls.

Matt Zimmer/Sioux Falls Live

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Oral Roberts 84, Kansas City 62 — Don’t look now but the team that started the conference season 0-10 and at one point lost 15 of 16 games might be the hottest in the Summit League.

Oral Roberts picked up their fourth straight victory on Wednesday night in the conference tournament opener, routing Kansas City at the Premier Center in the 8/9 “play-in” game.

Ty Harper had 22 points to lead the Golden Eagles (10-22), who took a 44-21 lead by halftime and never looked back. ORU shot 50 percent from the floor and made 13-of-27 3-pointers while the Kangaroos shot just 34 percent and made 6-of-24 from deep. Martins Kilups had 17 points for the Eagles and Connor Dow added 14.

Jayson Petty had 14 points to lead the Kagaroos, who finish the season 4-27. It was their final game under coach Marvin Menzies, whom the school announced earlier this season would not return next year.

With the win ORU advances to face top-seed North Dakota State on Thursday at 6 p.m.
The Golden Eagles lost to NDSU 86-58 in Tulsa on Jan. 24 but they took the Bison to overtime in Fargo on Jan. 3 in a 79-77 loss.

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Matt Zimmer

Matt Zimmer is a Sioux Falls native and longtime sports writer. He graduated from Washington High School where he played football, legion baseball and developed his lifelong love of the Minnesota Twins and Vikings. After graduating from St. Cloud State University, he returned to Sioux Falls, and began a long career in amateur baseball and sports reporting. Email Matt at mzimmer@siouxfallslive.com.





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