John Fredriksen Net Worth is$11.3 Billion
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Profession: Business magnate
Date of Birth: May 10, 1944
Ethnicity: Norwegian people
Country: Norway, Cyprus
Net Worth: View John Fredriksen Net Worth
What is John Fredriksen's net worth? John Fredriksen's net worth is $11.3 billion dollars which makes him the richest person in Cyprus. Born in Oslo, Norway, John Fredriksen began his professional career working for shipbrokers in Norway. In his late 20s, he left the company and ventured out on his own. During the Iran-Iraq Wars in the 1980s, he was one of the few oil shipping companies who continued to work in the region, even though it was incredibly dangerous. His company made a huge profit during that decade. He took this fortune, and turned it into the largest oil tanker fleet in the world, operating environmentally sound double hulled tankers. He runs a number of investment companies, including Meisha and Hemet Holdings, and has complete control or partial ownership of such companies as Frontline, Golar LNG, SeaDrill, Golden Ocean Group, and Deep Sea Supply. He owns homes in London, Oslo, Marbella, and Cyprus. He became a citizen of Cyprus in 2006, and gave up his Norwegian citizenship in the process.
John Fredriksen, (born 10 May 1944) is a Norwegian-born Cypriot oil tanker and shipping tycoon, owner of the world's largest oil tanker fleet, and was Norway's richest man until he chose to abandon his Norwegian citizenship and take up a Cypriot passport. Norwegian magazine E24 listed Fredriksen in 2011 with a net worth of NOK 59,7 billion ($10.7 billion USD). Through his investment companies Hemen Holdings and Meisha, Fredriksen controls the companies Frontline and Golar LNG from London.
He also has major interests in the offshore driller SeaDrill, the fish farming company Marine Harvest the dry bulk company Golden Ocean Group, and supply vessel company Deep Sea Supply. Fredriksen's Frontline in 2010-11 owned 9,6% of another large tanker company Overseas Shipholding Group, but divested itself of this stake during 2011.
Born on Oslo's east side, Etterstad, the son of a welder, Fredriksen began as a trainee in a shipbroking company. At the age of 27 he started working for himself. Fredriksen made his fortune during the Iran-Iraq wars in the 1980s when his tankers picked up oil at great risk and huge profits. As described by his biographer, "he was the lifeline to the Ayatollah." He is now the world's largest tanker owner, with more than seventy oil tankers, and major interests in oil rigs and fish farming. His fleet is dominated by costly double-hulled, environmentally safer tankers.
Back in December 2005 rumours circulated of Fredriksen-controlled firm Seadrill bidding for Stavanger based rig company Smedvig, and since has been in a bidding war with U.S. company Noble Corporation. But it was announced in late January 2006 that Seadrill had bought more than 50 percent of Smedvig, and therefore gained control of the company (51.24 percent of the votes and 52.27 percent of the capital). Smedvig is valued at NOK 15 billion, and is Fredriksen's biggest ever deal. Noble Corp sold its stake in Smedvig to Seadrill in April 2009. Smedvig is now fully under Seadrill'

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John Fredriksen Latest News

Frontline Ltd (FRO) Settles Into New 52-Week Low on December 07 Session

Some of the vessels also transport raw materials such as iron ore and coal. Frontline Ltd has 135 employees, is led by CEO John Fredriksen, and makes its home in Hamilton, . Frontline Ltd is also a component of the Russell 2000 Index, which is generally ...
Posted: December 8, 2017, 1:25 pm

Fredriksen's Northern Drilling raises $246 mln in private placement

each with a nominal value of $1.00 * Hemen Holding Ltd., a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family and affiliated with Greenwhich Holdings Limited ("Greenwich"), Northern Drilling's ...
Posted: November 10, 2017, 6:15 am

Sembcorp Marine close to semi-submersible sale

The rig is currently held in a standstill agreement between the builder Sembcorp Marine and John Fredriksen-backed North Atlantic Drilling (NADL). It was ordered by NADL in 2012 for $568m, but is currently owned by a 77:23 joint venture between Sembcorp ...
Posted: December 5, 2017, 2:07 am
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