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 cancels four VLCC newbuilds at STX

In a not unexpected move John Fredriksen’s Frontline has cancelled four VLCC newbuildings ordered at bankrupt STX Offshore & Shipbuilding. In its second quarter results Frontline flagged-up it was in discussion with STX over the four VLCC newbuildings ...
Posted: October 16, 2016, 8:17 pm

BRIEF-Marine Harvest: John Fredriksen grants chairman option to buy 1 mln shares

* The top owner of Marine Harvest, billionaire John Fredriksen's Geveran, has granted Chairman Ole-Erik Leroey's Framar an option to acquire 1,000,000 shares in Marine Harvest * The premium paid by Framar for the option is NOK 1,000,000. The option may be ...
Posted: October 24, 2016, 11:43 pm

Vard continues aquaculture push with acquisition

John Fredriksen’s Deep Sea Supply and Marine Harvest have also entered into an agreement to establish a 50/50 owned aquaculture shipping joint venture that is to build, own and operate aquaculture vessels.
Posted: October 14, 2016, 1:00 am
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