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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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Grand Forks Founder of Coffee Business Named Small Business 2026 North Dakota Small Business Person of The Year Winner

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Grand Forks Founder of Coffee Business Named Small Business 2026 North Dakota  Small Business Person of The Year Winner


(U.S. Small Business Administration image)

 

(KNOX) – The U.S. Small Business Administration (SBA) has named Sandi Luck, founder and CEO of Grand Forks based Bully Brew Coffee and ND Coffee Roastery, as its 2026 North Dakota Small Business Person of the Year winer. This prestigious award recognizes Luck’s visionary leadership, the sustained growth of her coffee enterprise, and her unwavering commitment to the North Dakota community. Luck’s entrepreneurial journey began 18 years ago when she launched a modest coffee kiosk while serving as a professor of marketing and entrepreneurship at the University of North Dakota. By blending her academic expertise with a “community over competition” philosophy, she has scaled her 100 percent woman-owned enterprise into a regional powerhouse.

“During National Small Business Week, SBA is honored to recognize the job creators, builders, and innovators who fuel our nation’s economy and anchor communities across America,” said SBA Administrator Kelly Loeffler. In North Dakota, the agency will host a series of events throughout the week, including local award ceremonies and networking sessions to celebrate the grit and resilience of entrepreneurs in their own communities.

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 “Sandi Luck embodies the spirit of North Dakota entrepreneurship,” said SBA’s North Dakota District Director Al Haut. “From her roots in Grand Forks to the expansion her company across the region, she has proven that a small business can be a powerful engine for both economic growth and community connection.”

Luck strategically leveraged her professional network and SBA resources, including SCORE, the North Dakota Women’s Business Center, and the statewide Small Business Development Center network. A pivotal milestone occurred in 2022 when she purchased a 27,000-square-foot warehouse to store her roasting operations and educational programs. This expansion allowed the ND Coffee Roastery to secure over 120 wholesale accounts, including becoming the official coffee roaster for North Dakota State University.



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North Dakota Republicans battle internal tension as election nears

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North Dakota Republicans battle internal tension as election nears


FARGO — Many in North Dakota are wondering what’s next for the Republican Party in North Dakota after the tension displayed at

the state’s Republican convention.

Several statewide incumbents skipped the process, prompting frustrated delegates to send a message, voting to symbolically distance them from the party by stripping them of their Republican label.

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Carter County woman mistakenly jailed for bank fraud in North Dakota

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Carter County woman mistakenly jailed for bank fraud in North Dakota


CARTER COUNTY, Tenn. (WJHL) – A Carter County woman was jailed for months in Fargo, North Dakota, after artificial intelligence mistakenly flagged her for bank fraud.

According to the Carter County Sheriff’s Office, Angela Lipps arrived at the Carter County Detention Center on July 14, 2025, for violation of probation. The Detention Center was informed through the National Crime Information Center (NCIC) that Lipps also had a warrant in North Dakota for being a fugitive of justice.

The sheriff’s office told News Channel 11 that it informed the Cass County Jail in Fargo that it had Lipps in custody. On Oct. 30, 2025, Lipps was extradited to Cass County. Upon arrival, Lipps obtained a criminal defense attorney, Jay Greenwood.

In Fargo, Lipps was held in custody for two months while facing four counts of unauthorized use of personal identifying information and four counts of theft, according to Greenwood.

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According to Greenwood, Lipps claimed she had never set foot in the state of North Dakota prior to being transported there by law enforcement.

“We kind of had a discussion as to, ‘I’ve never been in North Dakota before, this is the first time I’ve ever been on an airplane when they brought me here,’ and so, we needed to establish that kind of that alibi line of defense,” Greenwood told News Channel 11.

Greenwood added that he began investigating bank records to prove that Lipps was not in Fargo at the time the bank fraud crimes occurred.

“I kind of reached out to Lipps’ family to see if they could get me some bank records just to show whether or not she was ever here, whether she was using her debit card in Tennessee, and it showed that she had been,” Greenwood said. “I asked for records of a few months back, so I kind of wanted to know if she had been buying the same types of things at the same types of places for a few months, and that showed that, and I gave that information to the state attorney’s office.”

Upon submitting the evidence to the state attorney’s office, the case was dropped shortly before a scheduled preliminary hearing.

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Fargo Police Department Chief David Zibolski acknowledged in a press conference on March 23 that it was a mistake by an AI recognition tool used by the West Fargo Police Department, which forwarded that information to the Fargo Police Department.

“Through their AI system, made that identification of Ms. Lipps and forwarded that information,” Zibolski said. “I would say it’s not an identification; it’s a potential suspect, but they forwarded that information to our detectives, who then assumed wrongly that they had also sent in the surveillance photos with that photo ID.”

Greenwood said fault also lies with the Fargo Police Department for not fully investigating the case before issuing a warrant for arrest.

“All I did was ask her family if she had ever left Tennessee, and they were pretty clear that she hadn’t, and then provided me information within about a week,” Greenwood said. “So it’s kind of split both ways. I get when people are going to use the tools that they have, you know, AI tools that they can use. But it can’t be the only tool. And they just left it at that. And this is what happens.”

Zibolski added in the news conference that the Fargo Police Department has issued a temporary directive and the department’s use of facial recognition technology is under review:

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  1. The use of facial recognition technology to identify an unknown person shall only be utilized by members assigned to the criminal investigation division.
  2. Prior to the use of this technology, the member’s unit commander shall review the case and approve the use of facial recognition technology to assist in creating an investigative lead that may help to identify an unknown person.
  3. Once reviewed and approved for submission, department members shall only use bona fide status or federal entities to perform the search.
  4. Department members shall not use any other individual agency or department’s facial recognition AI system.
  5. All facial recognition identification submissions shall be tracked by the unit commander. The unit commander shall report the results of those submissions monthly to the CID Commander.

The Fargo Police Department is still actively searching for the fraud suspect.



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