Meet Norway’s richest people according to the latest data from business magazine Kapital.
Norway’s leading business magazine Kapital has once again published its annual list of the 400 wealthiest people in Norway. The list is based on the semi-public data published by the Norwegian tax authorities every year.
An Oslo-born Cypriot national who lives in London tops the list, and comfortably so. Oil and shipping magnate John Fredriksen is worth more than double his nearest rival. His wealth of NOK 98 billion is a 6% increase on last year.
During the Iran-Iraq Wars in the 1980s, his was one of the few oil shipping companies who continued to work in the region, despite its risks. The gamble paid off, and his oil tanker fleet is now the world’s largest.
His inclusion on the list is curious given that he renounced his Norwegian citizenship “because it offered his family better tax arrangements”, according to several media reports. Norwegian citizens are taxed on their wealth in addition to their income.