Business Leaders

John Fredriksen

Birthday : 05/10/1944
Place of birth : Oslo - Norway
Country of residence : Cyprus
Linked companies : Frontline - SeaDrill

Born in Oslo, son of a welder, John Fredriksen began his career as an intern in a company of maritime trade. At 27 years old, he created his company. He really starts winning money during the war between Iran and Irak in the 80s with his tankers recovering oil. It generated huge profits. As described by his biographer, he was a real lifesaver for confronting to the “Ayatollah”.

In December 2005, rumors circulated that the company controlled by Seadrill Fredriksen could link interests with those of Smedvig. Then followed a battle with the American company NobleCorporation. But in January 2006, Seadrill acquires 50% of Smedvig, allowing it to take control of the company, establishing its largest deal since its creation.

In June 2007, the Daily Mail said that Fredriksen might be interested in buying the English football clubTottenham.

If he recently launched in the fish farming, which he became the world leader as a result of mergers and acquisitions, the man whose fortune is estimated at nearly 5 billion euros is now established at the head of Frontline, the largest fleet of supertankers in the world, and Seadrill, an oil services group owner of platforms.

These two groups, although entered in the tax haven of Bermuda, are listed on the Oslo Stock Exchange. But as a citizen of Cyprus, Mr Fredriksen also benefits local law that makes inheritance taxes are non-existent while in Norway, they would rise in his case 20% of the inheritance.

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