Olav Thon Net Worth is$5 Billion
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Date of Birth: Jun 29, 1923
Country: Norway
Net Worth: View Olav Thon Net Worth
What is Olav Thon's net worth? Olav Thon's net worth is $5 billion dollars which makes him the richest person in Norway. Born in Al, Hallingdal, Norway, Olav Thon bought his first piece of real estate in 1951. Since then, the Oslo resident has managed to grow one building, into a massive real estate empire that includes domestic properties and 25 properties overseas. He branched out into restaurants in the mid-1960s, and, through his holding company, Olav Thon Gruppen, he now owns 425 properties in Norway, 61 shopping malls, 7000 hotel rooms - spread out over multiple hotels, a chain of retail stores, and a range of restaurants, clubs, and drinking establishments in Oslo. His holding company has increased in value exponentially over the last few years, bucking the real estate crisis that is being felt in many other parts of the world. Now in his late 80s, he recently announced that his wealth would go in to a trust after his death, "to be spent on future generations".
Olav Thon (born 29 June 1923 in Al, Hallingdal) is a Norwegian real estate developer and listed by Forbes List of Billionaires as the 368th richest person in the world in 2008. His 2005 reported income was NOK 1.2B (US $179M), the highest in Norway. He lives just outside Oslo, in Sollih?gda, Hole municipality. Thon is a Christian. His company owns 360 properties in Norway and 18 abroad, including shopping malls, office buildings, retail stores and hotels. His principal holdings are the private companies Stormgard AS and Thongard AS, in addition to a major stake in the publicly traded company Olav Thon Eiendomsselskap ASA.
In an article in the Norwegian newspaper DN on September 10, 2008, Olav Thon's solicitor, John Christian Elden, announced that Olav Thon intends to give away his entire fortune. Thon's portfolio which has an estimated value of approximately NOK 21 billion, will eventually be placed in a trust named after Thon, and will according to Elden, be spent on future generations.

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Olav Thon Latest News

Norway's richest man gives equivalent of $1.3 billion to charity

Oslo - Olav Thon, the richest man currently living in Norway, recently donated a large portion of his personal wealth to his charity foundation. Kapital magazine estimates Thon's wealth at 27 billion crowns, which is approximately equal to $4.39 billion USD.
Posted: December 11, 2013, 1:06 am

Israeli cancer geneticist wins first Olav Thon Foundation prize

Norway’s largest charitable organization, the Olav Thon Foundation has announced that its first international research award in the medical and natural sciences will go to Tel Aviv University’s Prof. Yosef Shiloh and Prof. Judith Campisi of the ...
Posted: January 28, 2015, 12:34 am

Norway's richest man gives chunk of fortune to charity

Olav Thon, whose wealth is estimated at 27 billion crowns ($4.39 billion) by Kapital magazine, handed his 71.9 percent stake in Olav Thon Eiendomsselskap ASA to his newly created foundation, starting off the new entity with about $1.3 billion, based on the ...
Posted: December 9, 2013, 4:00 pm
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