With a fortune of some $11.3 billion, or about 65 billion kroner, Norwegian-Cypriot magnate Fredriksen is still a long way behind number one on the list, the Mexican telecom entrepreneur Carlos Slim Helu, who along with his family commands a fortune equating to around 391 billion kroner.
A further five Norwegians featured on the list of the wealthiest people in the world.
Real estate king Olav Thon is the next highest, with his fortune of over 28 billion kroner, enough to secure a place at 205. The remaining Norwegians are Stein Erik Hagen and family (442nd, with just over 15 billion), Kjell Inge Røkke (601st, with almost 12 billion), Arne Wilhelmsen and his family (804th, with just over 9 billion) and Petter Stordalen (1015th, with just over 6 billion).
Microsoft's Bill Gates, who a few years ago topped the list, comes in second, with the equivalent of 346 billion kroner, followed by the investor Warren Buffett, who has amassed a fortune amounting to 250 billion.
The annual Forbes list includes anyone who qualifies to be considered a billionaire, measuring wealth in US dollars.This year the list consisted of some 1,226 people.
The highest placed Scandinavian is Sweden's Stefan Persson, chair of the Hennes & Mauritz clothing chain, coming in at 8th place, with a fortune equating to 146 billion kroner.
Lego owner Kjeld Kirk Kristiansen, was the highest placed Dane, at 166th place with a fortune of 34 billion kroner.
The list marked the 25th anniversary of Forbes World's Billionaires Ranking.