Norway’s rich got richer during the pandemic

Frazer Norwell
Frazer Norwell - [email protected]
Norway’s rich got richer during the pandemic
A collection of boats moored in Oslo. Photo by kriti tara on Unsplash "

A new list of Norway’s 400 most wealthy individuals shows the country's richest saw their net worth grow during the pandemic.


Norway’s 400 richest people are all kroner billionaires with an average net worth of 4 billion kroner or $465 million dollars, according to a list of Norway's wealthiest people by magazine Kapital.

The top ten list is filled by several familiar faces such as Gustav Witzøe, Johan H. Andresen, Ivar Tollefsen, Kjell Inge Røkke, Stein Erik Hagen and Torstein Hage.

Shipping mogul John Fredriksen topped the list of Norway’s richest people with his net worth estimated to be around 114 billion kroner by the magazine.

“From what we can see, this makes John Fredriksen the richest Norwegian ever,” Kapital’s editor, Vibeke Holth, told press agency NTB.

The country’s richest seem to have done well out of the pandemic according to the magazines editor.

“Never before have we experienced such wealth in Norway,” Holth said.


The grocery sector was the biggest beneficiary of the pandemic. Odd Reitan, whose businesses include supermarket Rema 1000, and Johan Johannson who owns Norgesgruppen are the third and fourth richest people in Norway with an estimated net worths of 51 and 50.5 billion kroner each.

Both supermarket tycoons became 6.5 billion kroner wealthier last year.

Hedge fund manager and Norway’s second richest person, Ole Andreas Halvorsen, saw their fortune rise by 13 billion to 56 billion kroner over the past year.

Another trend that the magazine picked up on is the rise of “big tech” in Norway. Some of the wealthiest newcomers to the list, with net worths not typically seen among newcomers, have technological backgrounds.

“The last year was a breakthrough year for Norwegians with big tech companies, and is something that will live on once Norway moves away from oil,” Holth said.


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