John Fredriksen | |
|---|---|
 Fredriksen (centre) andStelios Haji-Ioannou (far left) at a meeting in 1989. | |
| Born | (1944-05-10)10 May 1944 (age 80) Eidsvoll, Norway |
| Nationality | Cypriot |
| Occupation(s) | Businessman shipping magnate |
| Known for | Owner ofGolden Ocean Group Owner ofDeep Sea Supply Owner ofFrontline Ltd. Shareholder ofOverseas Shipholding Group |
| Spouse | Married |
| Children | 2 |
John Fredriksen (born 10 May 1944) is a Norwegian-born Cypriot oil tanker and shipping billionaire businessman based in London. He owns the world's largest oil tanker fleet and has major interests in theoffshore drillerSeadrill, thefish farming companyMowi, and the dry bulk companyGolden Ocean Group. Through his investment companies Hemen Holdings and Meisha, Fredriksen controls the companiesFrontline, Avance Gas Holding Ltd. and Flex LNG Ltd. In 2010–2011, Frontline owned 9.6 percent of another large tanker company,Overseas Shipholding Group.[1]
Born inOslo, Norway, Fredriksen is now anaturalised Cypriot citizen.[2][3] Before abandoning his Norwegian citizenship, he was Norway's richest man.[4] Norwegian magazineKapital listed Fredriksen in 2013 with a net worth ofNOK 253 billion (US$23,3 billion).[5][6] In 2012, he was included in the50 Most Influential list ofBloomberg Markets Magazine. He was named in the top 10 most influential people in the shipping industry according to Lloyds List 2014.[7]
Fredriksen was born on 10 May 1944 to a welder and his wife, and grew up inEtterstad, in the eastern half ofOslo.[citation needed]
Fredriksen is a widower and has two twin daughters (born 1983): Cecilie andKathrine Astrup Fredriksen. Fredriksen's late wife, dentist Inger Astrup Fredriksen (died 2006), originally belonged to one of the Astrup families in Norway. Her father was a professor of psychiatry, and her grand uncle was the painterNikolai Astrup.[citation needed]
Frederiksen first got into oil trading in the 1960s inBeirut,Lebanon, before buying his first tankers in the 1970s.[8] He made his fortune during theIran–Iraq War 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 theAyatollah." Fredriksen would later become 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.[9]
In 2006, Seadrill bought more than 50 percent ofSmedvig, gaining control of the company (51.24 percent of the votes and 52.27 percent of the capital). Smedvig is Fredriksen's biggest ever deal. Noble Corp sold its stake to Seadrill in 2009, leaving Seadrill with full control.[10] Fredriksen has been the majority owner ofVålerenga I.F. for many years.[citation needed]
TheSunday Times Rich List has ranked Fredriksen's wealth as £475m (2003), £1.050b (2004), £1.887b (2005), £8.311b (2023).[11] In 2012, Fredriksen and his family were listed as the 9th richest in Britain with a combined wealth of £6.6bn.[12] Fredriksen owns houses in London, Oslo, Cyprus, andMarbella, Spain. His houseThe Old Rectory in London has been estimated to be worth around US$172 million.[13] He is a collector of classic Norwegian art.[14]
Fredriksen claims to support research projects at TheRadium Hospital and to have donated several hundreds of millions of Norwegian kroner to medical research at hospitals in Norway.[15]
In 1985, the Norwegian insurance companyGard became suspicious about losses of cargo from Fredriksen's tankers. A private investigation was initiated, and a system for the use of heavy oil asbunker fuel was revealed.[16] The case was turned over to the Norwegian police and in June 1986 Fredriksen's offices in Oslo were searched and several of his nearest associates, and after a while also Fredriksen, were placed in detention while the case was investigated.[17]
After several years of arguments between the various lawyers, the case was settled out of court. Fredriksen had to pay a fine of 2 million NOK[18] for risking his crew's lives, and in addition had to pay the insurance company Gard an amount of overUS$800,000.[19]
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