John Fredriksen 2 Net Worth is$11.3 Billion
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Profession: Business magnate

Date of Birth: May 10, 1944

Ethnicity: Norwegians

Country: Norway, Cyprus

John Fredriksen net worth: John Fredriksen is a Norwegian-Cypriot oil and shipping magnate who has a net worth of $11.3 billion. Born in Oslo to a welder father, Fredriksen started his career in a ship-broking company and at the age of 27 he started working for himself. He first began trading oil in the 1960s in Beirut, then he went on to buy his first tankers in the 1970s, ran crude oil for Iran in the 1980s, and in the 1990s, with Frontline Ltd., he made a name for himself as the king of the tanker trade. In addition to the above, John has main interests in the offshore driller SeaDrill, the fish farming company Marine Harvest and the dry bulk company Golden Ocean Group, as well as the supply vessel company Deep Sea Supply. John Fredriksen was Norway's richest man until he decided to abandon his Norwegian citizenship for tax-haven Cyprus. The man who was included in the 50 Most Influential list of Bloomberg Markets Magazine in 2012, runs the world's largest oil tanker fleet from his mansion in London and he spend his days off in Marbella. John is widowed and has two children.
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.
In 2012 he was included in the 50 Most Influential list of Bloomberg Markets Magazine.
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

John Fredriksen 2 Latest News

Offshore drilling group Seadrill files for bankruptcy

The company, controlled by billionaire ship owner John Fredriksen, has been struggling ever since the ... five years with no amortisation payments due until 2020. Holders of $2.3bn in bonds would be offered about 15 per cent of equity in the newly ...
Posted: September 13, 2017, 11:08 am

Seadrill Sets a Fast Pace for Bankruptcy Turnaround

Seadrill's bankruptcy plan allots about 2% of the reorganized company to shareholders, but leaves founder and major shareholder John Fredriksen with a significant stake. Mr. Fredriksen and Centerbridge Partners have committed to provide much of the $1 ...
Posted: September 13, 2017, 5:01 pm

Today’s Top Supply Chain and Logistics News From WSJ

The business controlled by Norwegian shipping magnate John Fredriksen filed for Chapter 11 ... review a bankruptcy plan that would leave shareholders with 2% of the business while giving Mr. Fredriksen and his allied Centerbridge Partners generous slices ...
Posted: September 14, 2017, 7:45 am

Shareholders hit hard as Seadrill files for Chapter 11 bankruptcy

OSLO (Reuters) - Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring ... “Holders of Seadrill common stock will receive approximately 2 percent of the post-restructured equity ...
Posted: September 13, 2017, 2:17 am

John Fredriksen Chucks His Seadrill Bond Crew Overboard

Founder John Fredriksen has had to watch the value of Seadrill Ltd fall ... The company expects Ebitda to be just $552 million in 2018, against $2.7 billion in 2013. Debts of about $9 billion need restructuring. After more than a year of wrangling ...
Posted: September 14, 2017, 6:10 am
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