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I've been fortunate as vice president to see people of all ages and genders realize that being the first at something shows they don't have to be limited by others' narrow views of what is possible.

We're heavily involved in most countries' retirement, whether it's in Mexico. We're the largest third non Mexican, not a foray retirement manager. We're the largest retirement manager, non Japanese in Japan. You know, we're the largest retirement manager in The UK, including the domestics. And so having that position, it's all about long term issues, but it's things that you can't replicate because it's based on years of relationships and trust. Then I do go out of my way when there's somebody who's new in their role, a new prime minister. Will spend time, Generally what I try to do is spend time before they win and meet the candidate. So whether it's in Mexico, spending time with Claudia before she won, or spending time with Kyrstarma. It's just spending time with them and just saying you have access to whatever information you need.

We are crushing it, and you are our partners. We have dedicated our company to the service of The West and The United States Of America, and we're super proud of the role we play, especially in places we can't talk about. We are doing well in The United Kingdom and many other places. Palantir is here to disrupt and make the institutions we partner with the very best in the world and when it's necessary to scare enemies and, on occasion, kill them. We hope you're in favor of that and enjoying being our partner. We are very focused on what we're doing.

I have 25 years of experience working on climate change, starting in 1973. I was the one who gave the Club of Rome their first major platform. I share your concern and believe that the only way to address these issues is by fixing our global architecture and system.

I want to be respectful of your time. I've been doing this for years, and I know what it's like to waste time on plans that go nowhere. I come from the private sector. I didn't get into politics through law school or anything like that. I wasn't born a politician. I always thought of myself as an entrepreneur. Right out of college, I opened a small business, a little wine store.

I am the chair of the governance committee for a major Canadian company and I take my responsibility in governance very seriously.

Thank you for the kind introduction and invitation to speak here. The World Economic Forum is invaluable to the global conversation between leaders in politics, business, and civil society, especially given the ongoing global economic instability. We are grateful for your leadership and vision. Canada's recent electoral success, transitioning from a minority to a majority government, is a testament to our ability to navigate economic challenges. Our success during the international financial crisis, attributed to strong leadership and a sound regulatory and business environment, positions Canada as a model for addressing current global economic difficulties. I look forward to sharing my perspective on the global economy and Canada's contribution to overcoming these challenges.

I have 25 years of experience working on climate change, starting in 1973 when I gave the Club of Rome a major platform. I share your concerns and believe that the only way to address these issues is by fixing our global architecture and system.

I'm part of the Norwegian sovereign wealth fund. We are a $2,000,000,000,000 sovereign wealth fund and 70% equities, 30% fixed income and bonds, and we are only 700 employees worldwide. So we have a single owner, the Ministry of Finance, who represents the Norwegian people, and I'm part of the team here in North America that manages the bulk of the equity assets.

I run a Pelosi stock tracker and an app with the slogan "invest like a politician." At 25, I quit my finance job in New York and moved to Bali. When COVID hit, I connected with co-founders to build an app that allowed users to follow their friends' stock portfolios. During the GameStop era, I built a Nancy Pelosi portfolio. Politicians were getting called out for their trades, especially during COVID, like Richard Burr's scandal involving COVID trades and insider information. We started tracking Pelosi's trades in 2022. She was up 54% last year, outperforming most hedge fund managers. We've got millions invested alongside her through our app. Our mission is to instill trust back into institutions.

In less than 3 years, we have managed around $13 billion of capital, including opportunities for those who wouldn't have had them. We also offer a multifamily office service for young people and private equity executives, helping them with planning and other things I wish I had done when I was younger.

The integration of young leaders into the world economic reform has been a long-standing initiative. Prominent figures like Mrs. Merkel and Vladimir Putin have been young global leaders of the World Economic Forum. However, we are now proud to see a new generation of young leaders, such as Prime Minister Trudeau and the President of Argentina, penetrating cabinets and holding positions of power. In fact, at a recent reception, it was evident that a significant portion of the cabinet members were young leaders from Cervo de Crespo. This trend is also reflected in Argentina's history.

Ehud: I don’t disagree with anything you said, and I don’t know who he trusts on these kinds of… Who the president really trusts. McDonough? The young guy. But he doesn’t—there was a Samantha Power—Power. No. The difference between who he trusts and who he likes. Larry Turner? She’s an idiot. I noticed that Obama listens to her. His door telephone is always open for her. He listens to her. He believes her instincts about politics, about who is against him, who is for him, what’s going around, who is hooking what from Chicago to the world. Ehud: But it’s like, do you think Richard Nixon ultimately cared what he listened to, what B. D. Luloso thought? Ehud: Listen to this: B. B. Robozo—Robozo was some kind of business, semi-corrupt business guy who was Richard Nixon’s best friend. And whenever Nixon went to Key Biscayne or California, B. B. Robozo was there. Nixon would spend a lot of time on B. B. Robozo’s boat. If B. B. Robozo wanted something, Nixon would stay. But I don’t think when Nixon was deciding what to do about open war, he was talking to B. B. Robozo. Ehud: Valerie Jarrett. So—in this regard, he’s probably alone, but he feels, compared to other leaders I happened to meet in the last decades, Obama impressed me as an extremely autonomous person. He feels good with himself, even when he’s alone in the home. I didn’t see in him what we know in Clinton or in Our Palace. There is anxiety, a need for love, for explicit expressions of love, there’s deep within their personality. I didn’t see anything of this in him. Obama: I’ve never seen that. Ehud: There’s lots of things to say. Bob Reich told me a story—Robert Reich, Secretary of Labor—he said Clinton would look at him in a cabinet meeting, and if Clinton looked annoyed or looked away, Clinton would call within two days: “How’s it going, Bob? What’s up? Is there something on your mind?” Obama wouldn’t call. He had lunch alone half the days. He didn’t schedule time to be alone. If he did some event where he spoke to a thousand people, they would give him a little rest time afterwards. He’s human, too. It’s the same: he wants to be with the people. It’s a source of strength in tough moments in politics, probably not the most effective way to mobilize people. Ehud: Another thing: President of the United States and you like to play golf. It’s a big asset. The President likes to play golf with his buddies—three guys: photographer, campaign guy, three buddies from Chicago. Most presidents played with members of Congress or business leaders; Obama is cerebral, and they gave him the nickname Black Jesus during the campaign. He has a sense of himself as not me, but he’s not like Clinton in that sense. Ehud: On Iran, the discussion turned to the possibility of surgical operations vs. broader war. The Pentagon developed subtle scalpels, more effective than ours. The goal is to delay the Iranian program by years, but the regime’s strategy is to defend its continuity, to build immunity—regime immunity—against intervention. The Iranians are like Pakistan and North Korea in wanting to avoid being toppled; they want to reach a rational capability that deters intervention. Ehud: The concern is time: for Israel, time is running out because Iran is expanding centrifuges, improving radars, and even GPS mines in the Strait of Hormuz. The regime’s calculation: they don’t have a timetable; they wait until they can secure immunity against external attempts. An election in Iran matters because it can delay or accelerate compromise, especially if the U.S. and partners are seen to be negotiating during an election year. Ehud: There was also discussion of the Arab world: Egypt is practical, not purely ideological. The leaders are practical—engineers who understand the need to feed tens of millions, to maintain tourism, the Suez Canal, and the canal economy. The argument was that US leverage matters; Europe is seen as constrained. The topic of how to engage with the moderate Sunni world to isolate Iran and support a regional security framework with the U.S., Europe, moderate Arab states, and Israel was raised. The aim would be to block fundamentalist terror, improve missile defense, and coordinate on Iran. Ehud: On Israel’s future, there was concern about a two-state approach versus a one-state reality. The Druze, Christians, and other minorities in Israel should be included, and there was advocacy for breaking the Orthodox rabbinate monopoly on marriage and conversions to Judaism to create a more open, plural society. The idea was to advance a plan that acknowledges borders, security, and regional cooperation, potentially with American guarantees. Ehud: The discussion touched on the possibility of a regional security system, with the moderate Arab world, and Israel as a focal point to manage security and block threats, which would help moderate Arab leaders justify engagement with Israel. The hope was that including the Palestinians and moving toward a regional framework would ease tensions and gain broader recognition. Ehud: The speakers reflected on the European economy: the Euro, German leadership, and the risk of “Southern Europe” becoming like Southern Italy—stable but with high unemployment and less dynamism. Germany’s role would be crucial in stabilizing Europe, but there was skepticism about rapid reforms. There was also commentary on Japan’s economic stance, with long-term bonds and potential inflation concerns; the risk of deflation versus inflation, and investor behavior in safe assets like US Treasuries. Ehud: In the financial world, there was talk about the “wall of money” entering markets, with deals in mining and private equity accelerating as rates stay low. There was speculation about who might pay for advisory services and how much compensation one could demand as a trusted adviser. Potential clients included sovereign wealth funds, private equity, and wealthy individuals who would value access to connections with prominent financiers and policymakers. Ehud: The conversation then shifted to Ehud’s post-government plans: he’s considering private equity, hedge funds, board roles, and advisory work. He discussed working with high-profile firms like Lookout (a cybersecurity firm), Palantir (Peter Thiel’s company), and Andreessen Horowitz, and he weighed the value of joining boards or advisory roles for significant compensation. There was talk of opportunities with Tony Blair and Panetta’s Foundation, and about leveraging relationships with influential figures like Petraeus and Panetta for strategic advisory roles. Ehud: The two discussed a potential collaboration involving a security-focused venture in which they would assemble a leadership team and pitch to sovereign wealth funds. They debated whether to pursue exclusive arrangements and how to structure compensation—whether high upfront fees or performance-based bonuses would be appropriate, given the urgency of opportunities and Ehud’s age. Ehud: There was talk of a German SPV structure to unlock value in suppressed German DACs, with a plan to acquire large German companies by taking minority stakes and reorganizing boards to bypass unions and passive shareholders. They described a Luxembourg or British Virgin Islands wrapper to enable financing and governance changes, and the goal of creating a management-driven, high-return vehicle akin to Berkshire Hathaway, with operational control over large assets. Ehud: They discussed approaching sovereign funds (Singapore, UAE, China) and state-owned investors to back restructured German companies, leveraging relationships within the German business world and the French/European regulatory environment. They explored the possibility of static, long-term advisory roles with leaders in global finance and industry, and using those platforms to drive value. Ehud: They also explored private-equity opportunities in other sectors—cybersecurity, infrastructure, mining, and even defense. They discussed the possibility of working with individuals like Klaus Kleinfeld (former Siemens exec, Alcoa head) and others to place Ehud into advisory or board roles, and whether to pursue roles that could yield immediate money while also enabling longer-term influence. Ehud: The conversation closed with practical steps: define concrete opportunities, gather numbers and returns, determine what the partners want (exclusivity, timeframe), and set a deadline for offers. They agreed to pursue a formal offer by March 14-20, with a final decision by April 1. They emphasized the need for crisp, precise positioning due to Ehud’s age, and to avoid overpromising. They planned to meet again, compare offers, and decide which path to take—whether with a security-focused outfit, a financial advisory role, or a combination of both. Ehud: The sense was that there are many opportunities for people with connections and credibility, and that the next few years could see rapid development in advisory services, sovereign wealth–backed deals, and strategic investments across defense, cybersecurity, and regional security. The overarching theme was leveraging decades of experience to match high-potential opportunities with the right partners, while navigating regulatory, geopolitical, and reputational considerations.

I am the chair of the governance committee for a major Canadian company, and I take my responsibility in governance very seriously.

Peter Mandelson says he is His Majesty's British Ambassador to the United States, speaking from the Ambassador's Residence, a symbol of decades of friendship. He states: the UK has no closer ally than America, and no one does more than the two countries together in intelligence sharing and defense. With jet fighters, naval missions, and army special forces operating together, along with deep economic and cultural ties, these bonds are unrivaled. Looking ahead, President Trump’s administration is shaping up to be one of the most consequential periods in modern America. Mandelson feels energized by opportunities to work more closely together in tackling threats to security and in exploiting new technologies to boost jobs and higher living standards. He shares personal background: born in London to a middle-class family; his father was from Jewish parents whose own father helped found a local synagogue; his mother supported him and his older brother; his father worked hard to send them to university. At Oxford University, his passion for learning and driving change began. He has served as a legislator, elected first to the House of Commons and more recently in Parliament’s upper house, and helped found and grow a successful international business promoting market access and investment worldwide. He is ready to bring policy knowledge, entrepreneurial spirit, and experience at the highest levels of government to his role. As Northern Ireland Secretary, he was responsible for implementing the Good Friday Agreement, which brought peace to that troubled part of the United Kingdom. Today, the UK Government's number one priority is economic growth. More than 1,000,000 Britons work for US companies and a million Americans work for UK firms. The UK and the US already have $1.5 trillion invested in each other, and he is confident they can go even further and faster together. He expresses gratitude for the warm welcome since arrival; Ronaldo, with whom he has lived happily for twenty-eight years, and he and Ronaldo are happy to be making their home in the United States. They look forward to exploring the country from coast to coast, state to state, and meeting many new friends along the way.

Our country needs a bigger reset, a great reset. Choosing between Davos and Westminster, Davos is preferred for its openness and meaningful engagement. It's disappointing that the UK Prime Minister didn't attend Davos. It's crucial for the UK to be present on the global stage. The younger generation, like Prime Minister Trudeau and the President of Argentina, are making positive changes. My government prioritizes serving the country over party politics. Davos over Westminster. Translation: Our country needs a significant reset, a great reset. Choosing between Davos and Westminster, Davos is preferred for its openness and meaningful engagement. It's disappointing that the UK Prime Minister didn't attend Davos. It's crucial for the UK to be present on the global stage. The younger generation, like Prime Minister Trudeau and the President of Argentina, are making positive changes. My government prioritizes serving the country over party politics. Davos over Westminster.

I teach honors economics at Bethel Park High School. As the chief nurse of a field hospital in Desert Storm, I learned the importance of planning ahead. The promise of retirement provides security for the future, allowing us to make the present better for everyone and have the freedom to pay it forward. Translation: I teach honors economics at Bethel Park High School. As the chief nurse of a field hospital in Desert Storm, I learned the importance of planning ahead. The promise of retirement provides security for the future, allowing us to make the present better for everyone and have the freedom to pay it forward.

I teach honors economics at Bethel Park High School. As a firefighter and chief nurse in Desert Storm, I learned the importance of planning ahead. Retirement promises security for the future, allowing us to make the present better for everyone and have the freedom to give back.

I have 25 years of experience working on climate change, starting in 1973 when I gave the club of Rome a major platform. I share your concerns and believe that the only way to address these issues is by fixing our global architecture and system.

We know the government is looking at digital ID cards at the moment. Well, Kirst Dahmer, our prime minister, has said we are looking at what other countries have done to bring in sort of digital accreditation. I think there's real actually benefits right across here from obviously dealing with illegal working, but also actually imagine if your viewers imagine that they had one credential that would allow them to access all the different government services and our public services do. I think it is an interesting idea that other countries have taken forward and we want to learn from what they've done.

Speaker 0: The discussion turns to how long you plan to stay in public life. Speaker 1: I don’t measure it by time, but by missions and tasks. I’m supported by a great majority of the people in the country, and that support comes despite foreign reporting. That is why I keep winning elections. When people say I might be a king, I respond that I’m not a king—I have to get elected, for God’s sake. I have great support at home: my wife is incredible, she’s a lioness; my two boys support me; and the people support me. Speaker 0: What do they support you for? Speaker 1: They want me to complete the quest for peace. They understand that I really liberated Israel’s economy from stagnant semi-socialism to become one of the most remarkable founts of creativity, innovation, and technology in the world. We have unbelievable technology today, and we now have an opportunity. Israel was a country with $17,000 per capita when I took over as foreign minister; I had a brief stint there. Today it’s going to cross $60,000 per capita. It’s still a way to go, but that’s a change that no country experienced because of the free market revolution that I introduced here. Speaker 0: There’s a sense of an upcoming revolution. Speaker 1: I see a much greater revolution coming. It’s here, it’s not coming; it’s already here. All the wondrous technologies we have—some of them are very frightening. I’ve talked to the leaders of AI in the world, and you ask yourself, there are so many blessings in this, but there could be a curse. The task is to challenge it, or to channel it into the blessings that Israel can give itself and the world. I think there’s another revolution coming, and I tend to steer it along with the achievement of a broader peace. These are two enormous tasks that I’d like to take on. And when history is within reach, you don’t step aside; you step forward. And that’s what I’m doing.

I am proud of the young generation, like Prime Minister Trudeau and the President of Argentina, who are making a difference. I attended a reception for Prime Minister Trudeau and learned that many members of his cabinet are young leaders in the world economy. This is also true in Argentina and France.

Speaker 0 notes that there have been many sessions about how important it is to get involved, to build a relationship with politicians, and to have access. Access and relationship can buy you influence, though it doesn’t necessarily guarantee it. The goal is for everyone to learn how to start and build a relationship with a politician, and to understand that while money is part of the system, the relationship is not solely about money, because access and relationship are needed to create influence. Speaker 0 emphasizes a large audience (4,000 people) and wants them to hear from the speakers about how to do this. Speaker 1 shifts to Miri and Sheldon Yeezy Robarouk, noting they have been more generous than he has, and suggests turning to Miri for guidance. Speaker 0 agrees, pointing out that both have built a lot of connections and influence. Speaker 1 responds by saying, “What I gave is this. This is what they gave is this.” He then adds that the principle is the same, though he is cautious about describing the system. He explains that it is a system they did not create; it is a system that is in place, a legal system, and they simply play within the system. He states that if you support a politician, under normal circumstances, you should have access to be able to share opinions and try to help them see your point of view, and that access grants you this ability. He further explains that contribution and financial support grants you access, so those who give more have more access and those who give less have less access. He calls it a simple math and reinforces the point with, “Trust me.” In summary, the speakers discuss the relationship between political engagement, access, and influence, acknowledging money’s role but emphasizing that access stems from supporting politicians and sharing viewpoints. They describe a legal, pre-existing system where greater financial contributions correlate with greater access, framing it as straightforward math within the established framework.

My operating method is unusual. I'm incredibly devoted to deeply understanding every aspect of my companies. I'm in the trenches, talking directly to those doing the work, and I'm the lead problem-solver. Every week, at each company, I identify and fix the biggest problem. In a year, each company solves 52 major problems. Most large companies are still in planning meetings while we're executing. It's a combination of intellectual capability, strong personality, moral authority, execution, and a focus on fundamentals. It's amazing to watch.