The concept of Tribal Sovereign Wealth isn't new. I've personally been involved in conversations on this topic since about 2004-2005 and a group of us started using the term around 2007-2008.
In case you missed it, here is the video recording of panel from the Milken Institute Global Conference held in Los Angeles a number of us tribal investment professionals attended back in 2010.
- Critical Mass. Even in 2010, Indian Country was starting to see a critical mass in assets ($27B revenue, set $10B EBITDA, annually).
- Conservative Asset Allocation. Most assets have historically been distributed via dividends or held largely in cash or low yield securities.
- Need Tribal Business Leaders. We need young Native Americans to pursue education and experience in quantitative areas - including economics, finance and business. (If you are a young person, student or know of talented young people - please contact me so I can help connect them with top schools and job opportunities)
- Many Tribes are Single Resource Limited. Gaming, natural resources, etc.
- Gaming is Limited. Tribal gaming (nationally) revenues reached saturation and flattened out starting in 2009.
- Partnerships. Some large investment opportunities are unique to tribal entities but can only be accessed by working together.
- Opportunity. There is significant opportunities to create additional wealth which are unique to tribes, especially around land and natural resources. In most cases, it takes outside or intertribal partnerships to realize these opportunities.
Slides from the panel can be found here.