Top 10 Richest Men In Norway According To Forbes (2025)

Norway is known for its breathtaking fjords, oil wealth, and high standard of living. But beyond the scenic landscapes and world-class welfare system, the country has also produced some serious business heavyweights. In 2025, Forbes highlighted Norway’s richest individuals, many of whom built or expanded empires in industries as varied as cruises, seafood, hedge funds, and retail.

Here’s a closer look at the top 10 richest men in Norway, their fortunes, and the industries that made them.

1. Torstein Hagen – $10.3 Billion

Age: 82
Industry: Cruises (Service)

Torstein Hagen is the undisputed king of cruises in Norway. He’s the founder and chairman of Viking Cruises, a luxury cruise line known for its elegant river and ocean voyages. Hagen’s rise to wealth came through spotting a gap in the cruise industry — offering upscale, culturally rich travel experiences for an older demographic.

Despite challenges like the COVID-19 pandemic, which rocked the cruise sector, Viking Cruises bounced back strong. Today, the company’s ships sail across rivers and oceans worldwide, and its reputation for quality service keeps demand high. Hagen’s fortune reflects his skill at combining Norwegian hospitality with global tourism trends.

2. Andreas Halvorsen – $8 Billion

Age: 63
Industry: Hedge Funds (Finance & Investments)

Andreas Halvorsen is a legend in the finance world. A former Norwegian Navy SEAL and Harvard Business School graduate, he co-founded Viking Global Investors, one of the most successful hedge funds in the world. Known for his disciplined investment strategies, Halvorsen has consistently delivered returns for investors, earning him a place among the top hedge fund managers globally.

His wealth comes not just from management fees but from having significant “skin in the game” — meaning he invests his own money alongside clients. This alignment of interests has built trust and a stellar reputation.

3. Odd Reitan & Family – $5.9 Billion

Age: 73
Industry: Retail & Real Estate (Fashion & Retail)

Odd Reitan is the man behind Reitan Group, a retail empire that includes the popular grocery chain REMA 1000. Starting with a single store in Trondheim in the 1970s, Reitan expanded aggressively, focusing on affordable, high-quality products. The business now spans across Scandinavia and parts of Eastern Europe.

Beyond groceries, the family has invested heavily in real estate, owning prime properties in Norway and abroad. Reitan is also known for his strong branding and emphasis on customer experience.

4. Kjell Inge Røkke – $4.9 Billion

Age: 66
Industry: Shipping & Seafood (Logistics)

Kjell Inge Røkke’s story is a classic rags-to-riches tale. Dropping out of school at 16, he moved to the U.S. where he worked on fishing boats before buying his own. Over the years, he built Aker ASA, a massive industrial investment company with stakes in oil, shipping, seafood, and engineering.

Røkke has also made headlines for his philanthropic commitments, including pledging much of his fortune to ocean conservation. His empire is proof that a keen eye for opportunity — coupled with a willingness to take risks — can pay off handsomely.

5. Ivar Tollefsen – $3.8 Billion

Age: 63
Industry: Real Estate

Ivar Tollefsen is the founder of Fredensborg AS, one of Scandinavia’s largest residential real estate companies. His journey began as a teenager renting out sound equipment for parties. He then shifted into property investments, focusing on rental apartments in Norway, Sweden, and Denmark.

Known for his adventurous lifestyle — he’s an accomplished mountaineer and sailor — Tollefsen applies the same daring spirit to his business moves. His portfolio continues to expand, tapping into the growing demand for urban housing.

6. Gustav Magnar Witzøe – $3.3 Billion

Age: 31
Industry: Fish Farming (Food & Beverage)

Gustav Magnar Witzøe is one of the youngest billionaires in the world. He owns nearly half of SalMar ASA, one of the largest salmon producers globally. While his father built the company, Gustav has focused on diversifying his investments into tech startups and real estate.

In Norway, salmon farming is big business — the country exports millions of tons of salmon annually. Witzøe’s stake ensures he benefits from both domestic demand and booming global appetite for high-quality seafood.

7. Caroline Hagen Kjos – $2.9 Billion

Age: 41
Industry: Conglomerate (Diversified)

Caroline Hagen Kjos is the chair of Canica AS, a family-owned investment company with holdings in retail, real estate, and finance. While she’s the public face of the company, much of the wealth was built by her late father, Stein Erik Hagen. Caroline has been actively modernizing the company’s investment strategy, focusing on sustainability and global expansion.

Though she’s the only woman on this top 10 list, her business acumen and leadership have solidified her standing in Norway’s elite business circles.

8. Bent Wilhelmsen – $2.7 Billion

Age: 65
Industry: Cruise Ships (Diversified)

Bent Wilhelmsen, along with his family, has deep roots in Norway’s shipping and cruise industries. He’s part of the Wilhelmsen Group, a global maritime logistics giant. The company operates in over 70 countries, handling everything from ship management to logistics services.

The Wilhelmsen family has successfully transitioned their business through generations, adapting to changes in the global shipping industry and investing in new technology.

9. Peter Preben Wilhelmsen – $2.7 Billion

Age: 63
Industry: Cruise Ships (Diversified)

Another key member of the Wilhelmsen family, Peter Preben plays an important role in maintaining the company’s global presence. The family’s business is not only about passenger cruises but also about critical services in international shipping — a sector Norway has excelled in for centuries.

10. Arne Alexander Wilhelmsen – $2.7 Billion

Age: 60
Industry: Cruise Ships (Diversified)

Arne Alexander Wilhelmsen is yet another stakeholder in the family’s maritime empire. Along with Bent and Peter, he ensures the Wilhelmsen Group remains competitive in a rapidly evolving industry. This collective wealth highlights the power of family businesses in Norway’s economy.

Key Observations About Norway’s Richest

• Maritime heritage still matters – Shipping, cruises, and seafood remain pillars of Norwegian wealth.

• Global reach is key – Many of these billionaires operate businesses far beyond Norway’s borders.

• Family-owned empires dominate – From the Wilhelmsens to the Reitans, family businesses are at the heart of Norway’s billionaire list.

• Diversification is a winning strategy – Most fortunes here are spread across multiple sectors, protecting against downturns.

Final Thoughts

Norway’s richest men represent a blend of old money and new entrepreneurship. From cruise ships to salmon farms and hedge funds, their wealth stems from industries deeply connected to Norway’s strengths — maritime trade, natural resources, and smart investments.

Their stories show that in a small but wealthy country like Norway, combining tradition with innovation is the real key to long-term success.