Which raises the question -- Norway famously made its citizen fund using oil money, but which country has made the most for it's citizens from [technology] IP?

Natural resources v IP resources?

Well, ASML is Dutch and started as a spin-off of government-funded research IIRC, but I don't know how big it is in terms of national GDP. On the other hand, the chips their machines enable also represents the kind of wealth not captured in money alone.

> but which country has made the most for it's citizens from [technology] IP?

Post-1950 this is unambiguously the United States.

What's specific government/country owned IP?

Just what you think the most lucrative is.

Not only the research, but the deployment of the GPS constellation comes to mind. [1] gives an estimated economic benefit of $1.4T, in the US alone.

[1] https://space.commerce.gov/doc-study-on-economic-benefits-of...

Norway basically. Nearly every other country just throws the money back into the general fund or accumulates it at the top.

Saudi Arabia would be the other noteworthy example. Acquired Saudi Aramco in the 70s/80s, and later diversified with projects like their (in)famous Public Investment Fund