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The virus crisis is affecting several of the country’s biggest fortunes, according to Kapitel’s recent list of the country’s richest. Both hotel king Petter Stordalen and cruise ship owner Torstein Hagen are among the wealthy who have seen their fortunes shrink in the past year.
Petter Stordalen’s fortune has shrunk significantly, according to Kapital’s rich list.
Siv Dolmen / E24
Published:,
On Thursday, Kapital magazine published its list of the 400 richest people in Norway, where several of the country’s largest fortunes have been reduced in the face of the virus crisis.
However, overall, the total value on Kapital’s listing has dropped by only NOK 7 billion compared to last year.
In total, the country owns the 400 richest assets for NOK 1.401 billion, according to the list. Of them, 362 are billionaires. That’s 21 more than last year.
51 of the 400 richest people in the country are women, according to the list. To qualify, it must be worth at least NOK 850 million this year.
Smell for Stordalen and Hagen
Hotel king Petter Stordalen remains 11th on the list, but his fortune has still shrunk to just over 10 billion kroner from last year. In total, his fortune is now estimated at NOK 16 billion.
Stordalen, who entered the year with around 200 hotels in its portfolio, previously described the virus outbreak as a “great black hole.”
Its hotel chain, Nordic Choice, has had to lay off thousands of employees in the face of the crisis, and is among the companies that have received the most from the state’s cash support to businesses.
The recession comes a year after the hotel chain reported a record result.
However, cruise ship owner Torstein Hagen has lost even more, according to Kapital’s calculations. Hagen, who is considered Norway’s 10th richest on the list, is listed with a fortune of NOK 20 billion.
That’s up to 40 billion less than last year.
Torstein Hagen leads Viking Cruises, which has been hit hard by the crown crisis. The virus pandemic has led to travel restrictions and empty ships around the world.
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Fredriksen is still the richest
Oil tanker John Fredriksen continues to top the list, with a fortune estimated at 104 billion Norwegian kroner.
His fortune has also shrunk by about 10 billion kronor since last year.
Among other things, equity is falling sharply for Mowi’s stock, which has fallen just over 27 percent so far this year.
Fredriksen, who turned 75 last year by the way, has been considered the richest in the country for several years. Previously, BI professor and historian Knot Sogner had calculated that Fredriksen is probably the richest Norwegian in history.
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Growth for food moguls
Otherwise, the country’s food moguls are well represented on the list.
Odd Reitan, owner of Rema 100, which ranks second on the list, is listed with a fortune of NOK 44.5 billion. That is approximately NOK 2.1 billion more than on the list above.
In seventh place we find Stein Erik Hagen with a fortune of 33 billion crowns. Kapital estimates his fortune has risen by five billion since 2019, at the same time that Orkla’s stake has risen more than 10 percent.
The garden also has holdings in the family business Canica, which among other things has stakes in Jernia, Komplett, Arcus and The Well spa center.
Otherwise, we find the salmon billionaire Gustav Witzøe in sixth place. According to Kapital, it has increased its form by three billion crowns to a total of 33.5 billion in the last year. At the same time, shares in Salmar de Witzøes have risen about ten percent.
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Tom Hagen increases his fortune
Further down the list is Tom Hagen at 169, with a fortune of two billion kronor. That’s a million more than the previous year.
According to Kapital, its stake in Elkraft constitutes the majority of assets.
He joined Kapital’s list in 1999, then with a fortune of NOK 550 million, and has been on the list ever since.
Hagen has kept a low profile for several decades, before becoming one of the most talked about people in the country last year. Hagen is charged with murder or complicity in the murder of his wife, Anne-Elisabeth Hagen, who disappeared in the fall of 2018. Hagen has denied having anything to do with it.
