Billionaire Profile

Global Rank

#133

Image: Public domain | via Wikimedia Commons

John Fredriksen

CEO, Frontline Ltd.

Real-Time Net Worth

$18.1B

As of December 2025

Age

Source

Shipping

Industry

logistics

Citizenship

Biography

John Fredriksen, born in Norway and now a Cypriot citizen, is a shipping magnate with an estimated net worth of $18.1 billion, ranking him among the world's wealthiest individuals. His wealth stems primarily from his extensive involvement in the shipping industry, particularly oil tankers. Fredriksen's career began in oil trading in the 1960s, later expanding into tanker ownership and eventually becoming the world's largest tanker owner. His strategic decisions, including navigating the Iran-Iraq war and acquiring distressed assets, have been pivotal to his success. Beyond shipping, he holds significant interests in offshore drilling, fish farming, and dry bulk shipping. Despite his success, Fredriksen has relocated some of his business to the United Arab Emirates and has expressed dismay over the state of life in both Norway and the UK.

Wealth Over Time

Portfolio Holdings

Frontline

Golden Ocean Group

In-Depth Profile

Early Life

John Fredriksen was born on May 10, 1944, in Oslo, Norway, to a working-class family. He began his career in the shipping industry at a young age, starting as a courier for a local brokerage firm. This early exposure provided him with foundational knowledge of the market and operations.

Rise to Success

Fredriksen's breakthrough came during the Iran-Iraq War in the 1980s. He made a fortune by transporting oil in the dangerous Persian Gulf, a move that set him apart and established his reputation for calculated risk-taking. In the 1990s, he built the world's largest independent oil tanker fleet through Frontline Ltd., acquiring distressed tankers during industry downturns. Fredriksen's willingness to operate in high-risk environments and his astute market timing have been key drivers of his financial success.

Key Business Strategies

Fredriksen's business strategy is characterized by counter-cyclical acquisitions, aggressive use of leverage, and strategic restructurings. He has expanded his empire through diversification, including investments in offshore drilling, fish farming, and dry bulk shipping. His move to Cyprus for tax optimization also played a role in his wealth accumulation. His investment companies Hemen Holdings and Meisha, control companies such as Frontline, Avance Gas Holding Ltd., and Flex LNG Ltd.

Philanthropy

Fredriksen supports research projects at The Radium Hospital and has donated hundreds of millions of Norwegian Kroner to medical research in Norway.

Career Milestones

1960s

Oil Trading

Began oil trading in Beirut, Lebanon.

1970s

Tanker Purchases

Purchased his first oil tankers.

1980s

Iran-Iraq War

Amassed a fortune transporting oil during the Iran-Iraq War.

1990s

Frontline Ltd.

Built the world's largest independent oil tanker fleet through Frontline Ltd.

2006

Cyprus Citizenship

Became a Cypriot citizen.

Philanthropy & Social Impact

Medical Research

Medical Research Support

Several hundreds of millions of Norwegian Kroner

Donations to medical research at hospitals in Norway.

Business Philosophy & Leadership

Notable Quotes

""When the market goes to hell, it's more of an opportunity than a problem.""

""I've been in tankers for 50 years, and I like it. For me, it's still fun.""

Leadership Principles

Strategic Risk-Taking

Embracing calculated risks to capitalize on opportunities.

Market Timing

Mastering cyclical timing in shipping markets.

Diversification

Spreading risk across shipping segments (tankers, drilling, LNG, bulk).

Controversies & Challenges

1985

Gard Case

The Norwegian insurance company Gard became suspicious about losses of cargo from Fredriksen's tankers.