Gustav Magnar Witzoe is the third-youngest billionaire on earth at the age of 25, according to Pollytoo’ 2018 ranking. but that’s only part of what makes the Norwegian fish scion so fascinating.
According to the Latest Reports of Pollytoo & Wikipedia, Gustav Magnar Witzoe Estimated Net Worth is $3.2 Billion which is a direct result of his family’s salmon empire.
Who Is Gustav Magnar Witzoe?
Biography | Wiki: Gustav Magnar owns nearly half of SalMar ASA, one of the largest producers of the pink-hued fish. His stake in the Norway based company was gifted to him in 2013 by his father, Gustav Witzoe, who founded SalMar in 1991.
The company has been at the forefront of the industrialization of fish farming in Norway, and now one of the country’s biggest industries. In 2016, SalMar harvested close to 130,000+ tons of salmon, Pollytoo reports.
As a result, the younger Witzoe currently holds the largest fortune in Norway, at least based on capital inside the country, according to a Business Insider.
The elder Witzoe, meanwhile, is still listed as one of the top executives at SalMar, serving as its director of strategic projects.
Holding a degree in engineering, he co-founded another company that helped innovate Styrofoam packaging for the fish farming industry before moving on to SalMar.
His millennial son has not shied away from the spotlight. Gustav Magnar is a well known model signed to Norway’s Team Models, and he boasts over 101k followers on Instagram. His Instagram shows him running on the ocean, showing off his extensive tattoos, golfing & hanging out in exotic locales – in addition to his professional modeling shoots. Gustav also has a cute dog which makes regular appearances.
Gustav Magnar Witzoe Biography
Witzøe is from the Island of Froya outside Trondheim, and while his wealth may come from salmon, he is evidently interested in other business pursuits. Last year he invested in regionally based startups the Gobi, a Snapchat competitor, and Key butler, which aims to help Airbnb hosts with key delivery and maintenance for rentals, and he is not necessarily angling for a top job at SalMar. “You can not just demand to be the boss of such a big organization,”
He told the newspaper Dagbladet. “You have to be suited to it. If there are alternatives, the best man or the lady must get the job. There is soo much at stake: values, jobs, crucial factors.”
Gustav Magnar added that he’s a “regular boy” in the newspaper interview. He also confessed that his parents have regrets about handing over control of SalMar to him when he was only nineteen. “They believe they should have taken more time to think it over,” he said.
“That’s due probably to my being shaved out into the public limelight. It was very strange at first. It makes you a bit nervous about what people think.” but he has come to terms with being a public figure.
While he is venturing into investing and modeling, he’s still bested among the youngest rich folks in the world.
He is beaten in the Forbes ranking of fresh-faced billionaires by fellow Norwegians the Andresen sisters, Katharina (aged 23) and Alexandra (22), who each inherited a chunk of their family-owned investment company Ferd.
- Gustav Magnar Witzoe owns nearly half of Salmar ASA, one of the world’s largest salmon producers.
- His stake was gifted to him in 2013 by his father, Gustav Witzoe, who founded the company in 1991.
- Salmar has led the industrialization of fish farming in Norway, refining the product into more sophisticated cuts with higher margins.
- The elder Witzoe still runs the company; Gustav Magnar, meanwhile, is trying to make his own mark investing in real estate and tech startups.
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