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Meet the Wealthiest Norwegians in 2021

by swotverge

Who’re Norway’s wealthiest folks in 2021? Uncover the highest 10 Norwegian billionaires because of the newest ‘wealthy checklist’ printed by a Norwegian enterprise journal.

It is that point of the 12 months once more! Annually, Norwegian enterprise journal Kapital publishes its annual checklist of the 400 wealthiest folks in Norway. The checklist doesn’t think about revenue, however the worth of complete belongings held.

This 12 months’s report reveals that every one of Norway’s 400 richest individuals are billionaires in Norwegian kroner.

In truth, the journal calculated that there are 407 Norwegians price multiple billion kroner. “By no means earlier than have we skilled such wealth in Norway,” mentioned Kapital editor Vibeke Holth.

Compiling Norway’s wealthy checklist

For 30 years, the Norwegian enterprise journal Kapital has printed an annual checklist of the 400 wealthiest folks in Norway.

Learn extra: Well-known Norwegian Individuals

‘Norway’s richest 400′ relies on the tax return knowledge printed by the Norwegian tax authorities every year. Kapital researchers then alter these figures primarily based on share worth actions and different public info accessible to date in 2021.

200 kroner notes

This implies in fact that the figures are estimates. The pandemic made the job harder for the second consecutive 12 months, however they’re assured within the outcomes.

Grocery store wealth will increase throughout the pandemic

Lots of Norway’s largest companies and wealthiest folks have taken a monetary hit throughout the pandemic. The grocery sector was one of many massive exceptions.

Odd Reitan of Rema 1000 fame and Norgesgruppen’s Johan Johannson place third and fourth on the checklist with belongings of NOK 51 billion and 50.5 billion respectively. Each males have watched their wealth enhance by NOK 6.5 billion kroner since final 12 months.

Now, let’s check out the highest 10 in additional element.

#1: John Fredriksen

The Oslo-born Cypriot nationwide who lives in London tops the checklist, and comfortably so. Transport magnate John Fredriksen is price greater than double his nearest rival. His wealth has additionally recovered from the 2020 dip, returning now to 2019 ranges.

“From what we will see, this makes John Fredriksen the richest Norwegian ever,” mentioned Kapital’s Vibeke Holth.

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In the course of the Iran-Iraq Wars within the Eighties, his was one of many few oil delivery corporations who continued to work within the area, regardless of its dangers. The gamble paid off, and his oil tanker fleet is now the world’s largest.

John Fredriksen
John Fredriksen

His inclusion on the checklist stays curious on condition that he renounced his Norwegian citizenship “as a result of it supplied his household higher tax preparations”, based on a number of media studies. Norwegian residents are taxed on their wealth along with their revenue.

#2: Ole Andreas Halvorsen

Fredrikstad-born Ole Andreas Halvorsen jumps from fourth to second place within the rankings. His wealth rose from NOK 43 billion to 56 billion over the past 12 months.

The CEO and co-founder of the Connecticut-based hedge fund, Viking World Traders, stays a Norwegian citizen however lives in America.

Halvorsen labored within the funding banking division of Morgan Stanley after ending his research and moved right into a senior place with Tiger Administration Corp earlier than co-founding Viking World Traders, which manages in extra of $30 billion of capital.

#3: Odd Reitan

Chances are high you’d count on most of the high ten to be concerned in delivery or the power industries. Nevertheless, these in positions three and 4 are each within the grocery store commerce. With a complete wealth of roughly NOK 51 billion, Odd Reitan is available in second.

He is the founding father of well-known grocery store chain Rema 1000. The chain started in Trondheim and now covers your entire nation, in addition to a number of different international locations in northern Europe.

Odd Reitan
Odd Reitan

Reitan was additionally the person behind the costly overhaul of the Britannia Lodge in Trondheim.

#4: Johan Johansson

The founding father of Rema 1000’s fundamental rivals NorgesGruppen, which incorporates the manufacturers Kiwi, Meny, Spar and Joker, is price nearly as a lot as Reitan. His complete estimated belongings come to NOK 50.5 billion.

Regardless of proudly owning round 70% of NorgesGruppen, Johansson retains a comparatively low public profile

Learn extra: Norwegian Individuals

#5: Gustav Witzøe

Who knew there’s a lot cash in salmon? The Witzøe household definitely do.

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Witzøe is founder and govt vp of one of many world’s largest salmon farmers, SalMar, based in 1991. SalMar processes tons of of 1000’s of tonnes of salmon every year.

Seafood exports are one in all Norway’s largest industries. Witzøe noticed his wealth leap from NOK 33.5 billion to 45.6 billion within the final 12 months, sufficient to elevate him one place within the rankings to quantity 5.

A lot of his fortune is to be inherited by his son, Gustav Magnus Witzøe. Along with a future controlling curiosity in SalMar, the 27-year-old already invests in expertise startups and actual property, and has labored as a mannequin. He has a giant social media following.

#6: Johan H. Andresen

In sixth place on the checklist with an estimated wealth of NOK 45 billion is Johan Henrik Andresen. Since 1998, Andresen has been the proprietor of the Ferd funding group.

Johan H. Andresen
Johan H. Andresen. Photograph: Olav Heggø / Ferd

One of many largest privately held corporations in Norway, Ferd is an funding firm with holdings in corporations inside business and finance in addition to an actual property portfolio.

It appears to have withstood the pandemic effectively to date, as Andresen’s private wealth elevated in every of the final two years.

#7: Ivar Erik Tollefsen

Actual property investor Tollefsen is price an estimated NOK 38.5 billion, up from 29 billion in 2020. The 59-year-old started his entrepreneurial journey by renting out DJ tools and providers.

#8: Kjell Inge Røkke

As the principle proprietor of Aker ASA, Kjell Inge Røkke is price round NOK 36.6 billion, up from 27.5 billion final 12 months.

Kjell Inge Røkke
Kjell Inge Røkke

Røkke launched his enterprise profession with the acquisition of a 69-foot trawler within the USA in 1982, and regularly constructed a number one worldwide fisheries enterprise.

Right now, Aker ASA is one in all Norway’s largest corporations, engaged in offshore fishing, building and engineering. Røkke is understood for his philanthropy and has beforehand introduced he’ll give away “the lion’s share” of his huge fortune to good causes.

#9: Stein Erik Hagen

Businessman and investor Stein Erik Hagen is price an estimated NOK 33 billion. He’s a significant shareholder of the Orkla Group, which has pursuits in branded shopper items, aluminium options and monetary funding sectors. Hagen additionally holds an curiosity in retailers Steen & Strøm, Jernia and Komplett.

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#10: Torstein Hagen

The founder, chairman and CEO of Viking Cruises had watched NOK 40 billion get wiped off the worth of his belongings from 2019 to 2020. It was the most important drop ever recorded by Kapital in a single 12 months.

His fortunes improved over the past 12 months although, as his wealth recovered to NOK 30 billion. This implies Hagen retains his place within the high ten.

Based in 1997 with simply 4 ships, the Viking Cruises fleet has grown to 82 vessels. Nevertheless, the well being disaster pressured the corporate recognized for its river cruises and ocean cruises to droop operations for a lot of 2020.

Piles of hundred krone banknotes in Norway

Elsewhere on the checklist

Apart from the highest ten, the massive story from this 12 months’s Kapital 400 is the variety of expertise entrepreneurs leaping straight into the chart. 35 folks have been new to the Kapital 400 checklist. Holth mentioned this was a “paradigm shift” in wealth creation.

The very best positioned lady within the rankings is at quantity 31. Transport inheritor Else Helene Sundt is price round NOK 8.7 billion because of savvy investments.

Her funding success noticed her leapfrog final 12 months’s richest lady, actual property investor Ruth Katharina Mustad Bevreng.

The wealthy checklist in 2020

For ease of comparability, listed below are the highest ten from the 2020 checklist:

  1. John Fredriksen
  2. Odd Reitan
  3. Johan Johansson
  4. Ole Andreas Halvorsen
  5. Johan H. Andresen
  6. Gustav Witzøe
  7. Stein Erik Hagen
  8. Ivar Erik Tollefsen
  9. Kjell Inge Røkke
  10. Torstein Hagen

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