Top 10 Billionaires from Cyprus in 2020

1.John Fredriksen (Net worth: $10.1 Billion)

John Fredriksen (born 10 May 1944) is a Norwegian-born Cypriot oil tanker and shipping billionaire businessman, who owns the world’s largest oil tanker fleet. He has major interests in the offshore driller, Seadrill, the fish farming company Mowi, the dry bulk company Golden Ocean Group, and the supply vessel company Deep Sea Supply. Through his investment companies Hemen Holdings and Meisha, Fredriksen controls the companies Frontline and Golar LNG. In 2010–2011, Frontline owned 9.6 percent of another large tanker company, Overseas Shipholding Group. North Atlantic Drilling, Sevan Drilling, and Asia Offshore Drilling are partly owned by Seadrill.

Fredriksen made his fortune during the Iran–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 the Ayatollah.” 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. In 2006, Seadrill bought more than 50 percent of Smedvig, 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. Fredriksen has been the majority owner of Vålerenga I.F. for many years.

The Sunday Times Rich List has ranked Fredriksen’s wealth as £475m (2003), £1.050b (2004) and £1.887b (2005). In 2012, Fredriksen and his family were listed as the 9th richest in Britain with a combined wealth of £6.6bn. Fredriksen owns houses in London, Oslo, Cyprus, and Marbella, Spain. His house The Old Rectory in London has been estimated to be worth around US$172 million.

He has a net worth of $10.1 billion in 2020 according to Forbes Magazine and tops the list of top 10 billionaires from Cyprus in 2020.

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