Born in Frøya on February 8, 1993, Gustav Magnar Witzøe is a billionaire Norwegian businessman who holds a substantial stake in SalMar ASA, a salmon fish farming company. At the age of 18, his father designated him as SalMar’s primary stakeholder for inheritance tax purposes, making him one of the world’s youngest billionaires.
Gustav Magnar Witzoe
Net worth: $2.7 billion
Source of wealth: Fish farming
Gustav Magnar Witzoe Early life
In Frøya, Trøndelag, Witzøe was born to caretaker Oddny Witzøe and businessman Gustav Witzøe. One of the biggest manufacturers of farmed salmon worldwide, SalMar was established by his father. Additionally, Scottish Sea Farms, the second-biggest salmon farmer in the UK, is significantly owned by SalMar. His father appointed him as SalMar’s principal stakeholder when he was eighteen, mostly for inheritance tax reasons.
Witzøe was employed as a milker at SalMar’s fish farms in Frøya and is involved in the family company. His net worth was $2.55 billion as of 2022.
Witzøe is an investor in real estate as well as a technological firm. He has investments in both Gopi and Keybutler and was previously employed by MGM Property.
For reasons that are unclear, Witzøe was arrested and served his sentence in jail.
About Gustav Magnar Witzoe
One of the biggest salmon producers in the world, Salmar ASA, is almost entirely owned by Gustav Magnar Witzoe.
In 2013, his father, Gustav Witzoe, who established the business in 1991, gave him his ownership.
Salmar has spearheaded Norway’s fish farming industry’s industrialization, transforming the product into more intricate cuts with larger profit margins.
While Gustav Magnar is attempting to carve out a career for himself by investing in real estate and tech startups, the elder Witzoe continues to oversee the business.
Worth of $3.3 billion net
Who is Gustav the youngest billionaire?
On February 8, 1993, in Frøya, a small island in Trøndelag, Norway, Gustav Magnar Witzøe was born into a family consisting of his parents, Oddny and Gustav Witzøe. According to Hot Fast News, his father was a businessman and his mother was a caregiver.
How did Gustav Magnar Witzoe make his money?
His father appointed him as SalMar’s principal stakeholder when he was eighteen, mostly for inheritance tax reasons. Witzøe was employed as a milker at SalMar’s fish farms in Frøya and is involved in the family company. His net worth was $2.55 billion as of 2022. Witzøe is an investor in real estate as well as a technological firm.