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| John Fredriksen |
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| RESULTS 2005 |
Ranking |
Worth |
Industry |
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16 |
£1,887m |
Shipping |
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| From his £40m Chelsea home, London-based Norwegian shipping magnate Fredriksen, 60, runs the world's largest oil tanker empire. He wants to move into container shipping as the industry enjoys an unprecedented boom on the back of Chinese economic growth. The son of a welder, Fredriksen started out as a junior shipping broker in Oslo, moving in the mid-1960s to New York, where he learnt how to clinch a deal. He made his fortune in the Iran-Iraq war in the 1980s, when his tankers risked the fighting to pick up oil at huge profit. Fredriksen has lived in London since 2001. His stake in his Frontline company is now worth £683m, after he sold £179m worth of shares last year. In 2004 he received about £235m in dividends, adding to the £130m he received the previous year. His other interests include a £270m stake in Golar LNG, a gas tanker business, and smaller stakes in other shippers. He also has properties around the globe. The Norwegian rich list valued Fredriksen at £1,887m in late 2004. We concur. |
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| RESULTS 2004 |
Ranking |
30 |
Worth |
2004: £1,050m |
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