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Norway’s richest person has twice the fortune of second richest: report

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Norway’s richest person has twice the fortune of second richest: report
John Fredriksen in 2013. File photo: Håkon Mosvold Larsen / NTB scanpix
18:26 CEST+02:00
A list of Norway’s 400 richest people in 2017 was published on Thursday – with the man at the top of list boasting a fortune that dwarfs all others.

Shipping magnate John Fredriksen heads the list, which was published on Thursday by the Kapital magazine, with a worth of 98 billion kroner (10.5 billion euros). That represents a six percent increase in Fredriksen's wealth compared to last year, according to the figures.

Second place on the list is Odd Reitan, founder of supermarket chain Rema, with a fortune of 48 billion kroner (5.14 billion euros) -- a figure that represents less than half of Fredriksen’s wealth.

Shipping businessman and philanthropist Kjell Inge Røkke, who earlier this year announced he would fund the purchase of a giant research vessel for the World Wild Fund for Nature (WWF), is tenth on the list with a fortune of 20.4 billion kroner (2.19 billion euros).

Nordic skiing champion-turned-property magnate Bjørn Dæhlie entered the list for the first time. Dæhlie’s 625 million kroner (67 million euro) wealth is enough to give him 394th place on the list.

Property has become a more important factor in overall wealth in recent years, reports the NTB news agency.

In 2005, property comprised ten percent of the wealth of Norway’s richest, whilst it represents 20 percent of the fortunes of those on Kapital’s current top 400 list.

The total fortune of Norway’s top 400 richest people has increased by 11 percent since 2016, according to Kapital’s report. The sum wealth of the 400 is a staggering 1.18 trillion kroner (127 billion euros).

Norway also has more billionaires (measured in Norwegian kroner, which as a rule of thumb can be divided by 10 to convert to an approximate figure in euros) than in 2016, with 285 billionaires in 2017 compared to 251 last year.

302 of the 400 individuals on the list have become richer since last year. 50 fortunes are estimated to have shrunk, while 48 are unchanged.

READ ALSO: Norway wealth fund hits 'milestone' $1 trillion value

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