Norwegian rich list

The richest citizens of one of the richest countries on earth.

1. Odd Reitan

Reitan is a retail guru and officially the richest man in Norway (John Fredriksen is technically a Cypriot citizen).

The founder of one of the biggest retail chains in the Northern powerhouse, Reitan is the founder of the ‘Reitangruppen’ convenience store brand, one of the largest companies in Norway.

Reitan founded the ‘REMA 1000’ brand – a collection of low-cost food and other perishables – in a country that is renowned for its expensive cost of living. In 2008 the company bought out all the LIDL outlets in the nation, one of its biggest rivals at the time.

The brand is best-known as the largest budget supermarket company in Norway. Reitan himself is said to be worth approximately £3.5 billion.

2. Stein Erik Hagen

Like Reitan, Hagen made his fortune through constructing a chain of budget supermarkets. He founded the RIMI chain, before being sold out to a consortium that included Swedish retail powerhouse ICA and Dutch brand Ahold.

He is currently the chairman and one of the largest shareholders in Norwegian consumer goods giantis Orkla, and is also a major investor in property investor Steem & Strom, hardware chain Jernia and e-commerce concern Komplett. He is said to be worth circa £3.1 billion.

3. Johan Johannson

Another retail magnate (I am beginning to spot a trend here), Johannson inherited the NorgesGruppen chain of grocery stores from his father and uncle. The company itself has almost 2,000 grocery stores under its umbrella and a further 500 convenience outlets.

Despite owning a stake worth nearly 70 per cent that he inherited from his family Johannson is not involved in the business in a hands-on manner. His value is said to be around £2 billion.

4.Andreas Halvorsen

The sole hedgie on the list, Halvorsen was recently profiled in Nordic Intelligence. The manager of one of the largest hedge funds in the world, the Connecticut-based former special forces soldier is the manager of the Viking Global Investors fund. He is valued at £1.8 billion.

5. Arne Wilhelmsen

A cofounder of the ‘Royal Caribbean’ cruise ship business which he started over forty years ago, Wilhelmsen has a diverse range of investments that include a significant stake in Linstow, one of the largest property companies in Norway.

Having now passed on his position on the board to his son, Wilhelmsen is worth an impressive £1.5 billion.

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